AsiaBaseMetals Inc. Announces the Appointment of Mr. Bruce Bragagnolo to the Board of Directors of the Company, and the Grant of Stock Options
Vancouver, January 31, 2024 - AsiaBaseMetals Inc. (TSXV: ABZ) (the "Company") announces the appointment of Mr. Bruce Bragagnolo to the Board of Directors of the Company, and the grant of stock options. Mr. Bragagnolo will also join the Company's Audit Committee and Compensation Committee.
Mr. Bragagnolo is the Executive Chairman and a Director of Regency Silver Corp., a Mexico focused gold-copper-silver exploration company advancing its flagship wholly owned high grade Dios Padre gold-copper-silver project in Sonora, Mexico. Regency Silver made a major gold-copper-silver discovery at Dios Padre in 2022. Bruce is the co-founder and former Chief Executive Officer of Timmins Gold Corp. (name changed to Alio Gold Inc.) which was a former +100,000 oz. per year gold producer. He is also the co-founder and the former CEO of Silvermex Resources Ltd., a silver explorer which was acquired by First Majestic Silver in 2011 for a market capitalization of $175 million. Mr. Bragagnolo's strategic planning, business development, administration and financing abilities were instrumental in structuring and raising over $75 million in equity and debt for Timmins Gold and overseeing the growth of the company as it transitioned from junior developer to a +100,000 oz. per year gold producer with a peak market capitalization of over $450 million. Mr. Bragagnolo obtained a degree in law from the University of British Columbia and is a member of the Law Society of British Columbia.
"Having had the pleasure of knowing Bruce for almost thirty years, working with Bruce in the past, including previously on the Board of AsiaBaseMetals, and the opportunity to follow his accomplishments, I'm sure the Company will benefit from his knowledge and relationships as it moves forward to continue to build shareholder value for all shareholders," stated Raj Chowdhry.
Mr. Deepak Varshney has tendered his resignation as a director of the Company, effective immediately, in order to devote the time required for managing his other business commitments. Raj Chowdhry, Chairman of AsiaBaseMetals, said, "We appreciate what Deepak has contributed to the Company and wish him all the best in his future endeavors."
Stock Options
The Company announces that, subject to Exchange approval, it has granted 250,000 stock options (the "Stock Options") to certain directors of the Company under the Company's stock option plan. The Stock Options will be exercisable at a price of $0.20 per share for a period of five (5) years from date of grant and will vest immediately.
ABOUT ASIABASEMETALS INC.
AsiaBaseMetals Inc. is a growth company focused on the exploration and development of base metals, precious metals. The Company has a 100% owned project in northeastern British Columbia, Canada - the 1,996 hectare Gnome zinc/cobalt project in the prolific geological district known as the Kechika Trough, a district hosting several zinc deposits. AsiaBaseMetals is led by a highly experienced executive management team that has a successful track record of building shareholder value through exploration, corporate finance, and mine development. AsiaBaseMetals Inc. trade on the TSX-V under the symbol ABZ. For more information about AsiaBaseMetals, please visit our website at www.asiabasemetals.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. For more information on the Company, please contact AsiaBaseMetals Inc.
On behalf of the Board of Directors of the Company
"Raj I. Chowdhry"
Chief Executive Officer
For further information, please contact:
Raj Chowdhry, Chief Executive Officer
Email: contact@asiabasemetals.com
Telephone: (604)-765-2030
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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