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Asia Metals to Acquire New South American Gold Mine
Friday 14 February 2020

14 February 2020 - US Asia Metals Inc., a wholly owned subsidiary of Asia Broadband Inc. (OTC: AABB), has signed a letter of intent (LOI) to acquire a South American gold mine and its surrounding property, in a campaign targeting properties in South America, Central America and Mexico with development potential and historic gold production, the company said.
Terms were not disclosed.
The company is conducting its final stages of due diligence in preparation to complete the property acquisition agreement.
The focus AABB's 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 Asia Metals Inc., is a resource company focussed on the production, supply and sale of precious and base metals, primarily to Asian markets.
The company utilises 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.
Details
Date Published: 14/02/2020
Target: South American gold mine and its surrounding property
Country: Mexico
Sector: Metals/Mining
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Asia Broadband Inc
Comment:
Terms of the deal were not disclosed

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