LAS VEGAS, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce the following corporate update.
The Company’s mining property acquisition strategy is 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. In 2021, the Company acquired two high potential gold property interests in Mexico, the Bonanza Gold Mine Project and the Tequila Gold Mine Joint Venture. Both properties are expected to have geological reports available in late February and gold production from the Tequila property is expected in March. Alternatively, the development of the Los Reyes and Colima properties in Mexico have been discontinued and deemed to be comparatively not feasible to justify rapid development. The Company continues to actively search for new high potential mining property acquisitions and anticipates an announcement in that regard in the coming months.
In collaboration with the Company’s digital assets developer, the recently launched proprietary cryptocurrency Exchange, AABBExchange.com, (the “Exchange”) continues to roll out additional components in a process necessary to ensure the stability, functionality, security and integration of the all modules and features. The numerous and complex mechanisms of the Exchange are evolving rapidly within a live environment. In the coming weeks, the Company expects to have trading algorithms optimized to facilitate 200 plus cryptocurrency Exchange trading pairs on the BCGateway platform and have the enhanced mobile Exchange apps available. Additionally, AABB is planning to launch an international marketing campaign for the Exchange and AABBG token expected to begin next month.
In regard to its gold-backed AABBG token and the Exchange, the Company embraces a pioneering philosophy with its truly unique Mine-to-Token vertical integration operational approach that strives toward cryptocurrency only exchanges and complete independence from FIAT currency. Furthermore, the Company’s physical gold bullion holdings continue to be stored in a private and secure location in Mexico. The Company is in the process of preparing the logistics of transferring the gold bullion to a new enhanced location in Mexico and plans to release pictures of the new storage after the transfer is complete.
Lastly, AABB management anticipates revisiting the audit process for the Company later this year. The general corporate goals are to realize increased revenues in all segments of operations to the sufficient levels required to qualify and apply for a major exchange uplisting.
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. Additionally, the Company has recently released its AABBG freshly minted mine-to-token gold-backed cryptocurrency and its own proprietary digital exchange AABBExchange. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies.
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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.