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Sunday, December 4, 2022

Asia Broadband (OTCMKTS: AABB) On the Move as Crypto Operator Sets Dec 28 as Release Date for Its Cryptocurrency Exchange Within the AABB Wallet

Asia Broadband (OTCMKTS: AABB) continues to move up steadily in a red market as the Company makes significant progress and sets December 28, 2021 as the definitive release date for its proprietary cryptocurrency exchange within the AABB Wallet. AABB management and the development team are thrilled in anticipation of the soon approaching Exchange launch. AABB’s primary goal for the AABBG token is to become a worldwide standard of exchange that is secured and trusted with gold backing, by progressively expanding token circulation to the primary sales markets of North America and Europe and expand globally to other predominant and high growth market areas. The launch of the Company’s AABB Wallet in March 2021 introduced its AABBG token’s initial release to the market that is backed by $30 million in physical gold the Company currently holds. We have previously reported on the Company’s sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, that netted them $82 million, which has funded all of this. As of the latest 10Q filed earlier this month the Company has $70,945,697 in the treasury.  

Last month the Company signed a definitive purchase agreement to acquire a 100% interest in the Bonanza Gold Mine Project. The Company came to terms with Martin Augusto Vallejo Lujambio for the 19.25 hectare concession # 221977, Bonanza, located approximately 48 kms southeast from the city of Acaponeta and 3 kms from the town of El Carrizo, in Nayarit, Mexico. The Bonanza 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. With December 28, 2021 set as the definitive release date for its proprietary cryptocurrency exchange, investors continue to heavily accumulate. The Exchange project has evolved and grown immensely in recent months to vastly improve the finished product. The new platform of the Exchange, the BCGateway, is now complete and allows for an expanding number of cryptocurrencies to be added which currently stands at 82 cryptocurrencies to purchase the AABBG token in the AABB Wallet, as shown on the new Exchange website AABBExchange.com. AABB skyrocketed from double zeroes to highs of $0.659 per share earlier this year and speculators are looking for a return to previous highs. AABB has momentum, huge liquidity and legions of new shareholders, many of them powerful players in small caps. 

Asia Broadband (OTCMKTS: 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. Additionally, the Company has recently released its AABBG freshly minted mine-to-token gold-backed cryptocurrency and is developing its own proprietary digital exchange. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand-based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies. AABB completed the sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, for $82 million, and the Company has used these resources to fund the launch of its new ERC-20 token. 

Earlier this year AABB released its long-awaited gold-backed ERC-20 token which it expects will become a world-wide standard of exchange that is secured and trusted with gold backing. Subsequent to the closing the 2020 year-end, AABB completed the sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, for $82 million, and the Company has used these resources to fund the launch of its new ERC-20 token. The Company’s latest issued filing shows it is virtually debt free with $7.8 million in the treasury and $10.6 million in revenues for the 9 months ended September 30, 2020. According to Asia broadband the AABB Gold token (AABBG) is backed 100% by physical gold held by the Company in several high security, private locations in Mexico. The Company will continue to back the token 100% by additional physical gold acquired from future mining production and gold purchased from cash reserves or credit. The initial token release was backed by $30 million in physical gold the Company currently holds.  

In order to buy the AABB Gold token (AABBG), purchasers must download the AABB Wallet and register through the Android Google Play and Apple App Store on their smartphones or through the AABBGoldToken.com website. Within the AABB Wallet, the token will only be available for purchase in exchange for other major cryptocurrencies such as Bitcoin, Ethereum and Litecoin. Therefore, purchasers will need to hold existing cryptocurrency in any third-party wallet such as Coinbase or Binance. Purchasers will then deposit cryptocurrency from their third-party wallet into their AABB Wallet to exchange and purchase the AABB Gold token (AABBG) for the current 0.1 gram of gold price plus a 2% transaction fee.  

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The launch of the Company’s AABB Wallet in March 2021 introduced its AABBG token’s initial release to the market that is backed by $30 million in physical gold the Company currently holds. Further token releases will continue to be backed 100% by additional physical gold acquired from the Company’s future mining production, gold purchased from cash reserves or credit. At today’s market price of gold, the one-tenth (0.1) gram of gold backing the AABBG token price is approximately $5.96 USD. The token price is tied to and supported by the Company at the market price of gold at a minimum. As the price of gold fluctuates, the minimum supported price of the AABBG token will increase or decrease. However, the potential upside price of the token will be driven by market demand after the Exchange launch.  

Last month the Company signed a definitive purchase agreement to acquire a 100% interest in the Bonanza Gold Mine Project. The Company came to terms with Martin Augusto Vallejo Lujambio for the 19.25 hectare concession # 221977, Bonanza, located approximately 48 kms southeast from the city of Acaponeta and 3 kms from the town of El Carrizo, in Nayarit, Mexico. The total purchase price of the property was $6 million split into $ 2 million cash and $ 4 million in restricted shares of Asia Broadband Inc. The Bonanza 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. 

Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the Bonanza property has shown high-grade gold assay results from recent samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t). Company management is excited by the Bonanza acquisition for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits. AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success. 

AABB has now confirmed a December 28, 2021, release date for its proprietary cryptocurrency exchange within the AABB Wallet. AABB management and the development team are thrilled in anticipation of the soon approaching Exchange launch. 

In collaboration with the Company’s digital assets developer, the integration and testing of network components continues in preparations for the initial staged launch of the Exchange. There have now been 150 cryptocurrency Exchange trading pairs added into to the BCGateway platform and 50 more trading pairs are planned to be added in the coming weeks. The Exchange project has evolved and grown immensely in recent months to vastly improve the finished product. Many new features and capabilities have been added to expand functionality, usability, module additions and market penetration including the web version, Spanish language version and a new Exchange website. 

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AABB continues to move up steadily in a red market as the Company makes significant progress and sets December 28, 2021 as the definitive release date for its proprietary cryptocurrency exchange within the AABB Wallet. AABB management and the development team are thrilled in anticipation of the soon approaching Exchange launch. AABB’s primary goal for the AABBG token is to become a worldwide standard of exchange that is secured and trusted with gold backing, by progressively expanding token circulation to the primary sales markets of North America and Europe and expand globally to other predominant and high growth market areas. The launch of the Company’s AABB Wallet in March 2021 introduced its AABBG token’s initial release to the market that is backed by $30 million in physical gold the Company currently holds. We have previously reported on the Company’s sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, that netted them $82 million, which has funded all of this. As of the latest 10Q filed earlier this month the Company has $70,945,697 in the treasury. Last month the Company signed a definitive purchase agreement to acquire a 100% interest in the Bonanza Gold Mine Project. The Company came to terms with Martin Augusto Vallejo Lujambio for the 19.25 hectare concession # 221977, Bonanza, located approximately 48 kms southeast from the city of Acaponeta and 3 kms from the town of El Carrizo, in Nayarit, Mexico. The Bonanza 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. With December 28, 2021 set as the definitive release date for its proprietary cryptocurrency exchange, investors continue to heavily accumulate. The Exchange project has evolved and grown immensely in recent months to vastly improve the finished product. The new platform of the Exchange, the BCGateway, is now complete and allows for an expanding number of cryptocurrencies to be added which currently stands at 82 cryptocurrencies to purchase the AABBG token in the AABB Wallet, as shown on the new Exchange website AABBExchange.com. AABB skyrocketed from double zeroes to highs of $0.659 per share earlier this year and speculators are looking for a return to previous highs. AABB has momentum, huge liquidity and legions of new shareholders, many of them powerful players in small caps. We will be updating on AABB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AABB.

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Disclosure: we hold no position in AABB either long or short and we have not been compensated for this article.

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