LAS VEGAS, May 27, 2021 (GLOBE NEWSWIRE) — via InvestorWire â€“ Asia Broadband Inc. (OTC: AABB) (â€œAABBâ€ or the â€œCompanyâ€) is pleased to announce that AABBâ€™s management and Board of Directors have approved the retirement and return of 107 million restricted common shares to the Company treasury. The share retirement process has been initiated with the Companyâ€™s transfer agent and is anticipated to be completed in the coming weeks. The Company initiative to create shareholder value led to the agreements with several third-party shareholders to retire the shares. AABB expects to retire additional shares to the Company treasury in the near future with the ongoing plans to continue the shareholder value initiative.
In other Company news, AABB will be releasing a progress update of the Companyâ€™s proprietary cryptocurrency exchange version of the AABB Wallet that has been under development with Core State Holdings, Corp. since the recent launch of the AABBG gold-backed token. After completion in the coming months, the exchange will allow AABB Wallet users to complete quick two-way exchanges of their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum and Litecoin. The proprietary exchange will also add tremendously to transaction fee revenues and allow for the price appreciation of AABBG, influenced by market demand and the limited supply of tokens released into circulation.
About Asia Broadband
Asia Broadband Inc. (OTC: 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. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.
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Forward-Looking StatementsÂ 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.â€™s (the â€œCompanyâ€) expected current beliefs about the Companyâ€™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.
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