Asia Broadband Signs Letter of Intent to Acquire High-Grade Gold Mine Property in Acaponeta Mexico

Rhea-AI Summary

Asia Broadband (OTC: AABB) has signed a Letter of Intent to acquire a high-grade gold production mine in Acaponeta, Nayarit, Mexico, valued at $11 million. This project includes two mine sites and a processing facility capable of handling 200 tons per day. The company plans to conduct further due diligence and expects to finalize the acquisition soon, potentially enhancing its gold production capacity. The management is optimistic about the project's development potential and low operational costs.

Positive

• Acquisition of a high-grade gold mine with existing infrastructure.
• Potential for rapid development and high production.
• Acquisition aligns with strategic expansion to increase gold holdings.

Negative

• The $11 million acquisition cost may strain financial resources.
• Integration challenges associated with the new mine operations.

LAS VEGAS, April 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that it has signed a Letter of Intent (LOI) to acquire a historic production multiple mine property in the prolific mining region of Acaponeta in Nayarit, Mexico. The high-grade acquisition target that is located approximately 48 kms southeast from the city of Acaponeta and 3 kms from the town of El Carrizo, has two mine sites, existing infrastructure and a 200 ton per day processing facility. The Acaponeta 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.

In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to acquire the economical $11 million property. AABB is expecting to confirm high grade assay results in the coming week from the Company’s initial due diligence activities on the property, as the mapping and rock sampling program continues. Company management is exhilarated with the Acaponeta project for its potential for rapid development, high production and low operating costs.

All efforts are underway to accelerate this tremendous potential acquisition to expeditiously advance AABB into production and begin an expansion program. The Company anticipates negotiating a definitive agreement to acquire the Acaponeta project in the very near future and will release additional location details, photos and mineralization information at 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 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 Asia Broadband's recent acquisition about?

Asia Broadband signed a Letter of Intent to acquire a gold production mine in Acaponeta, Mexico.

How much is Asia Broadband investing in the new mine?

The acquisition is valued at $11 million.

When is Asia Broadband expected to finalize the mine acquisition?

The company anticipates finalizing the acquisition in the near future after further due diligence.

What benefits does the Acaponeta mine provide for Asia Broadband?

The mine offers high-grade gold production potential and existing processing infrastructure.

What is Asia Broadband's stock symbol?

The stock symbol for Asia Broadband is AABB.