October 1, 2015 - Mr. Raj Chowdhry, of 8164 Muirfield Crescent, Whistler, BC, announces that he has acquired ownership and control of 500,000 flow-through units ("FT Units") of AsiaBaseMetals Inc. (the "Company") as part of the Company's private placement of 1,000,000 FT Units, which closed on September 29, 2015. Mr. Chowdhry is the President, Chief Executive Officer and a director of the Company.
Each FT Unit consists of one flow-through common share of the Company and one transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one non-flow-through common share of the Company until September 29, 2017, at a price of $0.05 for the first year and $0.10 for the second year.
After giving effect to the acquisition, Mr. Chowdhry beneficially owns and controls 1,734,410 common shares and 500,000 Warrants. The common shares and Warrants represent 8.52% of the Company's issued and outstanding shares on a non-diluted basis or 10.72% of the Company's issued and outstanding shares on a partially-diluted basis assuming exercise of Mr. Chowdhry's Warrants. Mr. Chowdhry does not hold any other securities of the Company.
Mr. Chowdhry acquired the FT Units for investment purposes. He intends to evaluate the investment in the Company and to increase or decrease his shareholdings from time to time as he may determine appropriate for investment purposes.
A copy of the early warning report being filed by Mr. Chowdhry may be obtained by contacting him at