Asia Broadband Signs Letter of Intent to Acquire Gold Mine and Production Facilities in Mascota, Mexico

Rhea-AI Summary

Asia Broadband Inc. (OTC: AABB) has signed a Letter of Intent (LOI) to acquire a historic gold mine in Mascota, Jalisco, Mexico. The 200-hectare property includes two mine sites and a 50-ton per day processing facility. The estimated value of the property is $30 million. AABB is pursuing the acquisition to expand its gold production and holdings, with further due diligence underway. Additionally, the company plans to launch the AABB Wallet and AABB Gold token (AABBG) to enhance its market presence.

Positive

• Acquisition of a $30 million gold mine property is expected to enhance AABB's gold production capacity.
• Existing infrastructure and processing facility on-site will accelerate time to production.

Negative

• None.

LAS VEGAS, March 04, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce it has signed a Letter of Intent (LOI) to acquire an historic production gold mine property and on-site processing facilities in the prolific mining region of Mascota in Jalisco, Mexico. The 200-hectare property, located approximately 3 kms from the community of Navidad, has two mine sites, existing infrastructure and a 50-ton per day processing facility operating on 25 hectares of the property. The Company has been strategically broadening its initiative to acquire gold production and increase the AABB’s physical gold holdings.

In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to acquire the estimated $30 million property. All efforts are underway to accelerate this turnkey acquisition in order to rapidly advance AABB into production and begin an expansion program. The Company anticipates negotiating a definitive agreement to acquire the property in the very near future and will release additional location details, photos and mineralization information at that time.

In other developments, AABB will be releasing news next week to define the parameters of the soon-to-be launched AABB Wallet and AABB Gold token (AABBG). The Company would like to clarify and respond to many of the recent questions it has received from the public regarding the scope, aspects and purchasing specifics of the token. Additionally, the Company’s token website AABBGoldToken.com is still under development until the token launch date and the website information is subject to change until that time.

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 is also releasing its freshly minted mine-to-token, gold-backed cryptocurrency AABB Gold token (AABBG) and expects to become a worldwide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.

Visit www.AsiaBroadbandInc.com for more information.

Contact the Company at:

Investor Brand Network
Email:		ir@asiabroadbandinc.com
Website:		www.asiabroadbandinc.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 significance of Asia Broadband's acquisition of the gold mine?

The acquisition is aimed at expanding AABB's gold production capabilities and increasing its physical gold holdings.

When is Asia Broadband expected to finalize the acquisition of the gold mine?

AABB anticipates negotiating a definitive agreement for the acquisition in the near future.

What is the estimated value of the gold mine property AABB is acquiring?

The estimated value of the gold mine property is $30 million.

What future developments can AABB shareholders expect?

Investors can expect updates on the acquisition and details about the soon-to-be-launched AABB Wallet and AABB Gold token.

How does the gold mine acquisition impact AABB's stock performance?

The acquisition is likely to positively impact AABB's stock performance by increasing its production capabilities and market presence.