LAS VEGAS, Sept. 29, 2020 /PRNewswire/ -- Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., today announced that it has signed a Letter of Intent (LOI) to acquire a high potential mineral property in the state of Colima, Mexico. The property is located in a prolific iron-copper-gold production area approximately 25 kms east of the Pena Colorada mine in Minatitlan, Mexico. Advantageously located with direct access to main Highway #3, the property also has a natural water supply. The land parcel is located at 19°18'47.3"N 103°53'49.9"W and consists of 100 hectares. Strategically viewed as a diversification acquisition, the Colima property is situated in a region where AABB has a comparative advantage of development resources and expertise readily available to rapidly develop the project. The Company is conducting its final stages of due diligence in preparation to complete the property acquisition agreement.
AABB recently added a mine and property in Colombia to its portfolio and is continuing with its gold mine acquisition campaign targeting properties in South America, Central America and Mexico, which have high development potential and historic gold production. The focus of the campaign is to duplicate the successful acquisition model of the Company's existing high-density, shallow gold mine property in Guerrero, Mexico, that has known historical gold vein structures. AABB is currently directing a full-scale development and production expansion of its mine and property in Mexico.
Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., 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 Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
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.
Parkin Investor Relations
SOURCE Asia Broadband Inc.