Asia Broadband Signs Definitive Acquisition Agreement for High-Grade Bonanza Gold Mine Project in Acaponeta Mexico

Rhea-AI Summary

Asia Broadband Inc. (OTC: AABB) has signed a definitive purchase agreement to acquire a 100% interest in the Bonanza Gold Mine Project for $6 million, comprising $2 million in cash and $4 million in restricted shares. The 19.25-hectare property, located in Nayarit, Mexico, has shown promising high-grade gold assay results, reaching over 10 grams per ton. This acquisition aligns with AABB's strategy to expand gold production and enhance physical gold holdings, leveraging its expertise in Mexico’s mining sector.

Positive

• Acquisition of Bonanza Gold Mine Project expected to enhance gold production.
• High-grade gold assay results of more than 10 grams per ton indicate strong potential for profitability.
• Strategic expansion into a prolific mining region promises lower operating costs.

Negative

• None.

LAS VEGAS, Nov. 30, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that it has signed a definitive purchase agreement to acquire a 100% interest in the Bonanza Gold Mine Project. The Company came to terms with Martin Augusto Vallejo Lujambio for the 19.25 hectare concession # 221977, Bonanza, located approximately 48 kms southeast from the city of Acaponeta and 3 kms from the town of El Carrizo, in Nayarit, Mexico. The total purchase price of the property was $6 million split into $ 2 million cash and $ 4 million in restricted shares of Asia Broadband Inc. The Bonanza gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.

Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the Bonanza property has shown high-grade gold assay results from recent samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t). Company management is excited by the Bonanza acquisition for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits

AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.

About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.

Contact the Company at:
Investor Brand Network
General Email:	ir@asiabroadbandinc.com
Token Support:	www.AABBGoldToken.com/support/
Company Website:	www.asiabroadbandinc.com
Token Website:	www.AABBGoldToken.com
Phone:	702-866-9054

Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What is the purpose of Asia Broadband's acquisition of the Bonanza Gold Mine Project?

The acquisition aims to enhance gold production and increase AABB's physical gold holdings.

How much did Asia Broadband pay for the Bonanza Gold Mine Project?

Asia Broadband purchased the Bonanza Gold Mine Project for $6 million, consisting of $2 million in cash and $4 million in restricted shares.

Where is the Bonanza Gold Mine Project located?

The Bonanza Gold Mine Project is located in Nayarit, Mexico, approximately 48 kilometers southeast of Acaponeta.

What are the expected benefits of the Bonanza Gold Mine acquisition for AABB?

The acquisition is expected to lead to rapid expansion, lower operating costs, and strong contributions to gross profits.

What are the assay results from the Bonanza Gold Mine?

Recent assay results from the Bonanza Gold Mine have shown gold values exceeding 10 grams per ton.