LAS VEGAS, May 18, 2021 (GLOBE NEWSWIRE) — Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce the publishing of the Company’s first quarter financial results highlighted by a strong balance sheet with over $100 million in assets. AABB is in highly liquid financial position to self-fund and rapidly advance its gold mining and cryptocurrency sales and exchange business segments of the Company.
Less than two months ago, the Company launched its AABBG gold-backed cryptocurrency token sales and has accumulated approximately $1.5 million in cryptocurrencies. Recently, AABB hired a marketing firm that has now designed an international marketing campaign to proliferate brand exposure, increase token sales and AABB Wallet transactions and amplify public and investment community awareness of the Company. The campaign roll-out will begin next week and is expected to build substantial momentum over the next 3 months, as AABB’s own proprietary cryptocurrency exchange nears completion and launch. The exchange will add tremendously to transaction fee revenues and allow for the price appreciation of AABBG above the minimum supported and gold-backed spot price of .1 grams of gold per token.
In the first quarter of this year, the Company began the assessments and negotiations of several gold mining projects as prospective high yield asset additions in the Company’s strategic growth initiative to acquire gold production and increase the AABB’s physical gold holdings. To date, management is thrilled with the projects’ potential for rapid development, high production and low operating costs. All efforts are underway to accelerate the acquisition processes to expeditiously advance AABB into gold production and begin expansion programs. The Company anticipates negotiating definitive agreements to acquire the mines and properties in the near future subsequent to drill testing, assays and further due diligence.
On an administrative note, AABB would like to provide an update to its loyal shareholders regarding the restricted share dividend.
CEO Chris Torres states, “Our transfer agent confirmed recently that restricted share dividends can take longer to process than ordinary free trading shares. This is due in part to some brokerage firms not allowing restricted shares in accounts, thus requiring physical share certificates to be printed and mailed. As these special dividend shares aren’t freely tradeable, the sense of urgency is not as high with Depository Trust Company (“DTC”) and the brokerage firms to complete the process. On May 12, 2021, DTC requested the additional shares needed to fulfill the dividend obligations. The dividend distribution process is still underway and is very much not on hold, as some have speculated.”
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 worldwide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.
| Contact the Company at: | |
| InvestorBrandNetwork | |
| General Email: | [email protected] |
| 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
[email protected]
