AsiaBaseMetals Inc. (the "Company"), focused in the Mining sector (focus - Global) as well as the Cannabis sector (focus - European Union - Croatia), and the Real-Estate Development sector (focus - Croatia), with the latter two sectors planned to be undertaken via plan of arrangement spin-out trqansactions, 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.
MINING SECTOR: The Company, in the mining sector, is continuing to diversify its asset portfolio via timely value-driven project acquisitions of base metals [Copper (Cu) / Zinc (Zn)], alkali metals [Cobalt (Co) / Lithium (Li)] in the current cyclical commodity markets down-turn and precious metals [Gold (Au) / Silver (Ag)] projects. Special attention is being directed to advanced business acquisition targets in the Americas, Africa and Asia (especially Myanmar - Thazi - Lithium project), 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.
CANNABIS SECTOR: The Company's review of the cannabis sector and markets and subsequent efforts to identify, pursue and implement opportunities in Europe(the "EU"), the largest up and coming western-culture cannabis market in the world (World populaion 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 relevent licences (the "Licences") 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, pursuant to the Cooperation Agreement, will transfer 100% or majority interest in City-New-Sub-Co to AsiaBaseMetals Inc. upon securing the License. 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 May 31, 2020 (previously March 2020). The City having commenced the construction of a 3,000 square foot (Sq-Ft) laboratory (the "Lab") within a new 25,000 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 May 31, 2020 (previously April 30, 2020) (News Release - February 20, 2020)
REAL-ESTATE DEVELOPMENT SECTOR: The Company's review of the real-estate sector and subsequent efforts to identify, pursue and implement opportunities in Croatia has resulted in the Company entering in to an option agreement (the "Option Agreement") as announced by the Company (News Release April 16, 2020).
Commodity and Business focus: The Company intends to retain Commodity and Business focus, as appropriate and applicable to enhance shareholder value, in the same manner as when AsiaBaseMetals Inc. was originally formed with shareholder support and approval, via plan of arrangement spin-out transaction(s) ("Spin-Co.'s"). Spin-Co's result in the Company retaining commodity/business focus and the shareholders of the Company, as of the record date of Spin-Co creation, receiving their additional new shares in a new Spin-Co company at virtually nil/nominal cost; creating a true business based and rightful benefit and value for the shareholders. (Please view the section marked Maintain Commodity Focus through Plan of Arrangement Spin-Out Transactions "Spin-Out(s)" provided below for more information).
A COMPANY & TEAM "BUILDING & ENHANCING SHAREHOLDER VALUE"
CAPITALIZE ON COMMODITY & MARKET CYCLES DOWN-TURNS
"THE RIGHT TIME TO CAPITALIZE IS NOW"
DISCOVER & ACQUIRE RESOURCES
ABZ # 1
Discovery of Cobalt (Co)
First in the region, together with Zinc (Zn).
The Gnome (Zinc / Cobalt) Project 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.). The Cirque & Cardiac Creek Zinc deposits have no reported Cobalt. Show-Details...
ABZ # 2
The Company has applied for an exploration permit for the Thazi Mineral Claims from Myanmar's Ministry of Mines ("M-MM"), opened a local branch/rep-office ("ABZ-Myanmar-Office") and opened a local bank account, commencing its operations in Myanmar; having earlier received registration ("ABZ-Myanmar-Registration") from The Directorate of Investment and Company Administration ("DICA"), which handles company registrations for foreign businesses and serves as a secretary to Myanmar Investment Commission (the "MIC"), the responsible body for investment application. Show-Details...
ABZ # 3
The Jean Iron Ore Project located within the Thunder Bay Mining District in the northwestern part of the province of Ontario, Canada was diamond drill tested (May-June, 2012 Program). The program included eight vertical NQ-size drill holes totaling 492.88m bounding 3km by 0.5km area. All eight holes intersected iron bearing Lower Taconite Member. The average true thickness was estimated to be 57.06m. Show-Details...
What’s Next? ……. ABZ # 4 - Gold/Copper!
Plan of arrangement spin-out transaction(s) ("Spin-Co.'s")
"In the mining sector, 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. We look forward to capitalizing on the timely first mover advantage while adding and contributing to the growth of the country and its people." Raj Chowdhry, President, CEO & Chairman
"In the cannabis sector, with the Company now also directing efforts into the Cannabis sector, especially into the largest market within western cultures represented by Europe having an approximate population of 740 million people (with EU representing approximately 512 million), when compared to North America having approximate population of 367 million (with USA representing approximately 327 million), Central America having an approximate population of 178 million, and South America having an approximate population of 427 million, the Company has entered into a cooperation agreement (the "Agreement") with a city (the "City") within Croatia, a member country (the "Country") of European Union (the "EU") under conditions set forth by law of the Country to obtain relevent licences to grow and sell cannabis for medical purposes (legalized by Country for limited medical use), and commercial purposes including recreational purposes (decriminalized by Country for personal use), when it becomes legally permittable. The Company will consider opportunities and acquisitions in the cannabis sector only in fully legal jurisdictions before commencing business" .
"In the real-estate sector, with the Company now also directing efforts into the Real Estate sector, especially in Croatia, the Company has entered into a option agreement (the "Option Agreement") as announced by the Company (News Release April 16, 2020)". stated Raj Chowdhry.
THE PATH FORWARD - CONTINUE TO IMPLEMENT BUSINESS PLAN
Diversify Assets - Special Attention Directed to Advanced Assets in the Americas, Asia, Africa & the European Union (EU)
AsiaBaseMetals Inc.'s business plan, given the current global economic and political environment and the projected anticipated outlook going forward, as deemed prudent is to diversify its assets to include non-mining assets, especially in the Cannabis sector and Real-Estate Development sector.
The Company is also continuing to seek out additional mineral assets, and when appropriately warranted, production of precious metals (gold and/or silver); base metals (copper and/or zinc and/or iron-ore) the leading base metals for economic growth; and industrial metals (Cobalt and/or Lithium), the fundamental components for the exponentially growing power storage battery market sector; while continuing to advance the Gnome Zinc project (100% interest) in the province of British Columbia) and the Jean Iron-Ore project (100% interest) in in the province of Ontario).
Accordingly, the Company's highly focused and experienced business and mining team, on the board of directors (the "Board") and the advisory board (the "Advisory Board"), has commenced reviewing new business opportunities, including identified advanced base, alkali and precious metals assets, with special attention directed to assets in the Americas (Mexico, Peru, Argentina, Colombia & Ecuador), Asia (Myanmar) and Africa [Guinea, Mali & Democratic Republic of Congo (DRC)].
Advance Current Zinc / Cobalt (Gnome) & Iron-Ore (Jean) Projects Prudently & Economically
Both the Gnome Cobalt/Zinc project and the Jean Iron-Ore project are located within highly prospective geological areas in Canada, one of the safest and mining friendly jurisdictions in the world, and especially where other world-class projects are currently being advanced by notable well-known and well-funded companies' who are likely to continue to upgrade the infrastructure and the access in the area to allow for production, thereby continually reducing the exploration costs. Pursuant to the Company's business plan, each of the projects was acquired upon the completion of a previous extensive review of upcoming future global demand for various types of metals when metal prices were unfavorable and/or depressed, especially for Cobalt, Zinc and Iron-Ore, at what management believes to be exceptionally low prices, representing "cents on the dollar for exploration work previously already conducted"; and without significant dilution to shareholders.
Maintain Commodity Focus through Plan of Arrangement Spin-Out Transactions "Spin-Out(s)"
The Company, pursuant to its plan to diversify at the right time, will likely seek the transferring of either the acquired precious metal assets or part of the other assets, including non-precious metal assets, then held to new companies to maintain commodity focus through the undertaking of a plan of arrangement ("Spin-Out"), wherein the Company's then existing shareholders as of the record date would upon completion receive shares of the new Spin-Out company (the "New-Spin-Co") without having to pay any additional funds; allowing each of the separate companies to focus individually in their respective sectors, based on appropriate regional infrastructure development and prevailing market factors, and to continue to build and maximize shareholder value.