AsiaBaseMetals Inc. (the "Company") is focused in the Mining sector (focus - Global). The Company is led by an accomplished, successful, and entrepreneurial business and mining team operating under high standards of business conduct to build shareholder value. more ...
As a result, the Company has entered into an arrangement agreement (the "Arrangement Agreement") with its newly incorporated wholly-owned subsidiaries, Mantra Exploration Inc. (“SpinCo-1”), Mantra Pharma Inc. (“SpinCo-2”) and Mantra 2 Real Estate Inc. (“SpinCo-3”, and collectively with SpinCo-1 and SpinCo-2, the “SpinCo Entities”) pursuant to which the parties intend to complete a spinout transaction by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”). The Company received an Interim Order from the Supreme Court of British Columbia (the "Court") on July 17, 2020 for the Arrangement. The Interim Order provides for, among other things, the holding of the annual general and special meeting on August 19, 2020 (the “Meeting”) of shareholders of the Company (“Shareholders”) to approve the Arrangement and the conditions that must be met to apply for a final order of the Court (“Final Order”) approving the Arrangement (see News Release - July 20, 2020 for Arranagement Details).
The purpose of the Arrangement is to reorganize the Company and its assets and operations into four separate companies. Upon the Arrangement becoming effective, each of SpinCo 1, SpinCo 2 and SpinCo 3 will cease to be a wholly owned subsidiary of the Company and the Shareholders, as of the Share Distribution Date (as defined below), will hold 100% of the outstanding SpinCo Shares (receiving additional new shares in each of thethree (3) Spin-Co's., being (1) Mantra Exploration Inc. operating in the Mining sector, (2) Mantra Pharma Inc. operating in the Cannabis sector (focus - European Union - Croatia) and (3) Mantra 2 Real Estate Inc.operating in the Real-Estate Development sector - incluuding Casino-Entertainment/Destination Resorts (focus - Croatia), (on a 1 share for 1 share basis), at no cost. The Company has set the record date to determine eligibility to participate in the Arrangement and receive the SpinCo Shares as the last trading date on the TSX Venture Exchange (“TSXV”) immediately prior the Effective date, being August 31, 2020 (the “Share Distribution Date”). In effect this will be done 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. more ...
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DISCOVERING & ACQUIRING
MINING: 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.
Discovery of Cobalt (Co) - Together with Zinc (Zn)
First in the region: Cobalt together with Zinc
Gnome Project: The Gnome Project (Cobalt / Zinc), 100% owned by AsiaBaseMetals Inc., encompassing 5,868 hectares (12 mineral claims) in the heart of an area that is home to both the Cirque and the Cardiac Creek Deposits, is located 35 kilometers SE along trend from Teck Resources Limited ("Teck") & Korea Zinc's joint ventured ("T-KZ-JV" - 50% each) Cirque deposit and 15 kilometers south east from the Cardiac Creek deposit (ZincX Resources Inc.). more ...
Thazi Project: 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 expects the permits to be granted by April 30, 2020. The Company intends to design its initial work program on the Thazi - Lithium project 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. more ...
Other Projects: The Company is reviewing additional mineral projects for possible acquisitions; . more ...
CANNABIS: The Company's 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 (World population of approximately 7.4 billion with Europe representing approximately 740 million people, with EU representing approximately 512 million), has resulted in the Company entering in to a cooperation agreement (the "Cooperation-Agreement") with a city (the "City") within Croatia (the "Country" and/or Croatia), a member country of the European Union (the "EU"), as announced by the Company (News Release - June19, 2019).
The Cooperation-Agreement, under conditions set forth by law of the Country, is to obtain relevant licenses (the "Licenses") for growing and selling cannabis (Croatia having legalized Cannabis for limited medical use on October 15, 2015 and decriminalized it for personal use in 2013) for medical purposes ("Medical-Cannabis-Permit") and commercial purposes including recreational purposes when and if this becomes permitted by the law of the Country, through a company incorporated/held by the City ("City-New-Sub-Co-Ltd").
The City, having received clearance from the national government to file for the incorporation of City-New-Sub-Co-Ltd for applications of Medical-Cannabis-Permit, anticipates that City-New-Sub-Co-Ltd will be incorporated and be able to start business commencing at the end of July, 2020.
The City, pursuant to the Cooperation Agreement, will transfer 100% or majority interest in City-New-Sub-Co to AsiaBaseMetals Inc. upon securing the License. more ...
Please Review Company's "Code of Business Conduct" ...... & ......"Disclaimer - including Forward Looking Statements"
RETAINING COMMODITY & BUSINESS FOCUS
ABZ # 2
Entering Cannabis Sector
in European Union ("EU")
(100% or Majority Owned)
What’s Next? ……. ABZ - (Co/Zinc) .. ABZ- (Fe) .. (ABZ - (Li) .....
ABZ - (Real-Estate Development) / ABZ - (Casino-Entertainment/Destination Resorts) .......
"BUILDING & ENHANCING SHAREHOLDER VALUE"