LAS VEGAS, May 17, 2022 (GLOBE NEWSWIRE) -- 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 La Paz Gold Mine Project in Mexico. The Company came to terms with Felipe Chávez Serrano and group for the 184 hectare La Paz concession, # 236301, located in the municipality of Etzatlan in Jalisco, Mexico. The total purchase price of the property was $700,000 and the Company is negotiating to acquire additional mining concessions in the area. The La Paz gold project is another mining asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.
“The La Paz property is a key strategic acquisition for the Company’s mining property portfolio that will facilitate the growth of our operations and profitability going forward,” expressed Chris Torres, the Company President and CEO.
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. Additionally, the Company has added a digital assets business segment and released its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet and a 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.
| Contact the Company at: | |
| General Email: | ir@asiabroadbandinc.com |
| Token Support: | www.AABBGoldToken.com/support/ |
| Company Websites: | www.asiabroadbandinc.com |
| www.AABBExchange.com | |
| 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.
