AsiaBaseMetals Inc. Announces Appointment to the Board of Directors (Mr. Bruce Bragagnolo), Grant of Options and Flow-Through Financing
October 23, 2017
NEWS RELEASE
AsiaBaseMetals Inc. Announces Appointment to the Board of Directors (Mr.
Bruce Bragagnolo), Grant of Options and Flow-Through Financing
Vancouver, BC – October 23, 2017 – AsiaBaseMetals Inc. (the “Company”) (TSX -V: “ABZ”) is
pleased to announce that it has appointed Mr. Bruce Bragagnolo , previously an Advisory Board
Member, to the Board of Directors of the Company. Mr. Bragagnolo will also join the
Company’s Audit Committee and Compensation Committee.
Mr. Bragagnolo is the co -founder and former Chief Executive Officer of Timmins Gold Corp.
(name changed to Alio Gold Inc.) an emerging intermediate, Mexican -focused 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 $120 million.
Mr. Bragagnolo’s strategic planning, business development, administration and financing
abilities were instrumental in Timmins Gold’s IPO, the acquisition and construction of the San
Francisco Mine, its listing on the TSX and NYSE -MKT, and the acquisition of the Caballo Blanco
Project, the Ana Paula Project and the El Sauzal Mill. Mr. Bragag nolo was responsible for
structuring and raising over $120 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 capitalizat ion 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.
Mr. Bryce Clark has stepped down from the Board of Directors . Mr. Clark has been appointed
an Advisory Board Member to replace Mr. Bragagnolo.
“It’s m y pleasure to welcome Mr. Bragagnolo to the Board of Directors and Mr. Clark to the
Advisory Board of AsiaBaseMetals Inc. Having had the pleasure of knowing Bruce for almost
twenty five years, work ing with Bruce in the past, including on the Advisory 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, together with the Company’s
Advisory Board members , Mr. Joe Piekenbrock, Mr. Bob Jacko, Mr. Carl Hering, Mr. Andrew
Bowering, Mr. Stephen Leahy , Mr. Clark and Mr. Rafael Ovallos to build shareholder value for
all shareholders” stated Chairman of the Board & CEO, Raj Chowdhry.
The Company announces a non -brokered private placement of up to $ 19,500 through the sale
of up to 65,000 common flow -through shares (“ Flow-Through Shares”) at a price of $0.30 per
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AsiaBaseMetals Inc. (TSX.V: ABZ) | www.AsiaBaseMetals.com
share. All Flow-Through Shares issued pursuant to the Private Placement will be subject to a
four month hold period from the date of issue.
The proceeds from the sale of Flow-Through Shares will be used by AsiaBaseMetals for the
exploration on the Jean Iron Ore Project in Ontario.
The Private Placement is subject to acceptance by the TSX Venture Exchange.
Certain directors and officers of the Company are expected to acquire securities under the
private placement. Such participation would be considered to be a “related party transaction”
as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction will be exempt
from the formal valuation and minority shareholder approval requirements of MI 61 -101 as
neither the fair market value of any shares issued to or th e consideration paid by such persons
will exceed 25% of the Company’s market capitalization.
The Company announces, subject to regulatory approval, it has granted 50,000 stock options to
Directors and/or members of the Advisory Board. These options will b e exercisable at $0.36 for
a period of two (2) years from date of granting.
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.
Certain disclosure in this news release constitute "forward -looking information" within the meaning of
Canadian securities legislation. In making the forward -looking statements in this news release, the Company
has applied certain factors and assumptions that the Company believes are reasonable. However, the
forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that
may cause future results to differ materially from those expressed or implied in such forward -looking
statements. There can be no assurance that such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such statements. Readers are caution ed not to
place undue reliance on forward -looking statements. The Company does not intend, and expressly disclaims
any intention or obligation to, update or revise any forward -looking statements whether as a result of new
information, future events or otherwise, except as required by law.
Contact Information
AsiaBaseMetals Inc.
Raj Chowdhry, Chief Executive Officer
Email: [email protected]
Board of the Company.