LAS VEGAS, March 09, 2022 (GLOBE NEWSWIRE) — Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that it has signed a Letter of Intent (“LOI”) to acquire additional high-grade gold properties Zodiac II and Zodiac III in Buen Pais, Mexico. AABB management is in the process of negotiating the terms of the prospective new adjacent acquisitions to add to the recently acquired Zodiac I property and management expects to reach an agreement after a due diligence and assessment period.
Last week, the Company signed a definitive purchase agreement to acquire a 100% interest in the Zodiac I Gold Mine Project in Buen Pais (“Good Country”), Mexico. The Company came to terms with Felipe Chávez Serrano and group for the 200 hectare concession, # 218704, Zodiaco I, located in the community of Buen Pais approximately 15 kms southeast from the municipality of Tonila and 30 kms from the city of Colima in Tuxpan, Jalisco, Mexico. The total purchase price of the property was $700,000 and the Company has the option to acquire two additional Zodiac concessions. Along with the property acquisition is a 150 ton per day (tpd) capacity processing plant available for lease and expansion. The Zodiac gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.