*AABB*Asia Broadband Signs Letter of Intent to Acquire Gold Mine and Production Facilities in Mascota, Mexico
8:30 am ET March 4, 2021 (Globe Newswire) Print
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.
