AABB - Asia Broadband Directors' Complete Additional $2 Million Dollar Investment Committing Further to Advance Expansion Projects | Benzinga
LAS VEGAS, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC:AABB) ("AABB" or the "Company") is pleased to announce that the Company has received a total of $2 million dollars from the four directors of the Company for a second purchase of preferred shares. A total of 20 million non-convertible, preferred shares were issued at the par value of $0.10 per share with each share having 100 voting rights and equal participation with common shares for all future dividends. The Company President and CEO, Chris Torres, purchased $1.4 million of the total preferred share issuance. The entire $2 million share sale proceeds will be allocated to the Company's capital expansion projects, such as the Company's $800 million dollar ore stockpile production agreement and new processing plant facility in Etzatlan, Mexico.
"Our entire management team is committed to the Company's growth and profitability and we have emphatically demonstrated this with a substantial long-term investment to fuel the expansion of our gold production and digital asset ...