Vancouver, BC - April 20, 2015 - AsiaBaseMetals Inc. ("AsiaBase" or the "Company") (TSX-V: "ABZ") is pleased to announce that it has appointed Raj Chowdhry, as CEO and President of the Company, effective immediately. He will also continue to hold his position as Co-Chairman.
Mr. Chowdhry is a Chartered Accountant (CA) with over 25 years of experience in the capital markets. He is the founder & president of Futura Capital Ltd, a private venture capital company that has been involved in the venture capital business since 1981 and has raised funds for various venture capital projects around the world. Raj has been a founder, director and/or officer, including President, CEO and/or Chairman of several public companies, trading on global stock exchanges, including the United States and Canada, and including the TSX Venture Exchange (TSX-V). Mr Chowdhry received a Bachelor of Commerce (B. Comm) degree from The University of British Columbia, Canada, and received his CA from the Institute of Chartered Accountants of British Columbia, Canada.
Rick Van Nieuwenhuyse, Co-Chairman, commented, "On behalf of the Board, I am pleased to welcome Raj Chowdhry to this position to lead AsiaBaseMetals Inc. on its path forward. We would like to thank Steven Khan for his role as Interim CEO".
Raj Chowdhry, commented, "I am, once again, pleased to accept this position and look forward to advancing the Company and helping to continue to build shareholder value with the Company's existing mining assets and by exploring other opportunities."
The Board would also like to announce that it has approved a 2:1 stock rollback. The Board believes the proposed consolidation will result in a share capital structure that will better attract additional equity financing, by reducing the Company's 77,200,892 outstanding common shares to 38,600,446 shares, subject to rounding. The Company does not plan to change its name in conjunction with the consolidation and the consolidation is subject to the approval of the TSX Venture Exchange. The record date will be announced in due course.
ABOUT ASIABASEMETALS INC.
AsiaBaseMetals Inc. is a growth company focused on the exploration and development base metals opportunities. The Company has the Gnome Zinc Project in British Columbia, Canada and has optioned the Jean Lake Iron Ore project in Ontario, Canada. AsiaBaseMetals is led by a highly experienced executive management team that has a successful track record of building shareholder value through various businesses, including exploration, corporate finance, and mine development.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Raj Chowdhry, Chief Executive Officer and President