AsiaBaseMetals Inc. (the "Company"), focused both in the Mining sector as well as the Cannabis sector, and reviewing the real-estate and development sector, is a Company led by an accomplished, successful, and entrepreneurial business and mining team operating under high standards of business conduct to build shareholder value.
Commodity and Business focus - Mining & Cannabis sectors: The Company intends to retain Commodity and Business focus in each of the Mining & Cannabis sectors, as appropriate and applicable with shareholder support and approval, in the same manner as when AsiaBaseMetals Inc. was originally formed from Sandfire Resources America Inc. ("Sandfire" - name changed from TintinaGold), via plan of arrangement spin-out transaction(s) ("Spin-Co.'s") to further enhance shareholder value. Shareholders of Sandfire, as of the record date, upon completion of AsiaBaseMetals Inc. as the Spin-Co. (News Release Oct 9, 2009) received one new share of AsiaBaseMetals Inc. for each share of Sandfire then held (on a 1 share for 1 share basis) at no cost.
Spin-Co from AsiaBaseMetals Inc. at no cost to shareholders: The Spin-Co. from AsiaBaseMetals Inc., upon completion, will result in existing shareholders of the Company (as of the record date) receiving additional new shares in the Spin-Co. at no cost.
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The Company is continuing to diversify its asset portfolio via timely value-driven project acquisitions of base metals, alkali metals in the current cyclical commodity markets down-turn and precious metals as it prudently advances its existing projects; 100% owned Gnome ("Gnome" - Zinc & Cobalt) and Jean ("Jean" - Iron Ore) projects in world-class mining districts in Canada, one of the safest and mining friendly jurisdictions in the world.
Additionally, the Company is awaiting the grant of exploration permits (the "Permits") at the Thazi ("Thazi" - Lithium) project in Myanmar pursuant to a submitted application (expected shortly; per Myanmar permit review/granting/tracking system). The Company intends to design its initial work program to explore for both hard-rock and salar-type deposit potential, using modern field techniques with International Organization for Standardization-approved mineralogical studies and analytical methods.
The Company is reviewing additional mineral projects for possible acquisitions; including a gold project in Western Africa [subject to a confidentiality agreement (the "CA")].
The Company's recent review of the cannabis sector and markets and subsequent efforts to identify, pursue and implement opportunities in Europe, the largest up and coming western-culture cannabis market in the world (population of 740 million people, with EU representing approximately 512 million), has resulted in the Company entering in to a cooperation agreement (the "Agreement"), as announced by the Company (News Release June19, 2019) with a city (the "City") within Croatia, a member country (the "Country" and/or Croatia) of the European Union (the "EU") under conditions set forth by law of the Country, to obtain relevent licences for growing and selling cannabis for medical purposes (Croatia having legalized Cannabis for limited medical use on October 15, 2015 and decriminalized it for personal use in 2013), and commercial purposes including recreational purposes when and if this becomes permitted by the law of the Country.
With the City having received clearance from the national government to incorporate City-New-Sub-Co-Ltd for applications of Medical-Cannabis-Permit, the City anticipates that City-New-Sub-Co-Ltd will be incorporated and able to start business commencing at the end of March 2020.
DISCOVERING & ACQUIRING VALUE-DRIVEN ASSETS
RETAIN COMMODITY & BUSINESS FOCUS
ABZ # 2
Entering Cannabis Sector
in European Union ("EU")
(100% or Majority Owned)
Message from CEO
Mining - Sector/Division
Raj Chowdhry, Chief Executive Officer & Chairman of the Board stated, "in the mining sector", the Company has completed the initial drilling (August 2019 - 140 m - true depth of only 80 m) at the Gnome (Zn/Co) property adjacent to the ZincX's Cardiac Creek deposit (a property having a robust PEA, where ZincX did additional drilling (2,000 m - 2019 program) to further develop their deposit. It's an exciting time as the Company as it's currently only testing for significantly shallow resource compared to the Cardiac Creek deposit (ZincX) or the Cirque deposit [Teck's & Korea Zinc's joint ventured ("T-KZ-JV" - 50% each)]. Based on the drill results of the 2019 exploration program the Company will likely test for the expected deeper resource as existing on adjacent projects. Further, the Company’s entry into Myanmar, a country having both China and India as neighbours (combined population of almost three billion people) who likely represent the largest buyers of Gold, Copper and Zinc, and users of batteries in the world, is a significant move. Myanmar being endowed with impressive geology will allow the Company, now having commenced operation in the country successfully, to also pursue other assets, including gold, silver and copper assets. With all major mining companies having ceased operations in Myanmar back in 1997, due to prevailing sanctions at that time and with Myanmar after two decades now re-opening its doors with no sanctions, we look forward to capitalizing on the timely first mover advantage while adding and contributing to the growth of the country and its people."
Cannabis - Sector/Division
Raj Chowdhry, Chief Executive Officer & Chairman of the Board stated, "In the cannabis sector, as previously announced, the cooperation agreement (the "Agreement") with the city (the "City") within Croatia, a member country ("the "Country") of the European Union ("EU") provides for the City to apply for a license for growing and selling cannabis for medical purpose ("Medical-Cannabis-Permit)" and, if it becomes permitted by law of the Country, a license for growing, processing and sale of cannabis for commercial purposes including recreational purposes ("Recreational-Cannabis-Permit"), through a limited liability company to be incorporated by the City ("City-New-Sub-Co-Ltd."). Upon City-New-Sub-Co-Ltd obtaining a Medical-Cannabis-Permit or a Recreational-Cannabis-Permit, the City has agreed to transfer all or majoity of the shares of City-New-Sub-Co-Ltd to the Company. With the City having received clearance from the national government to incorporate City-New-Sub-Co-Ltd for applications of Medical-Cannabis-Permit, the City anticipates that City-New-Sub-Co-Ltd will be incorporated and able to start business around end of March, 2020. The City having commenced the construction of a 3,000 square foot (Sq-Ft) laboratory (the "Lab") within a new 250,000 Sq-Ft building (the "Building") in anticipation of the completion of incorporation of City-New-Sub-Co-Ltd anticipates the Lab (now 80% completed) and the Building (now 90% completed) to receive occupancy permit by April 30, 2020 (see news release dated February 20, 2020). The Company will consider opportunities and acquisitions in the cannabis sector only in fully legal jurisdictions before commencing business".
What’s Next? ……. ABZ- (Co/Zinc) .. ABZ-(Fe) .. (ABZ- (Li) ..... Gold/Copper & More .......
"BUILDING & ENHANCING SHAREHOLDER VALUE"
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"Code of Business Conduct" & "Disclaimer - including Forward Looking Statements"