Asia Broadband Board Approves Additional $18 Million for Stock Repurchases, Bringing Authorized Total Repurchases Up to $30 Million

LAS VEGAS, Oct. 22, 2026 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (the “Company”) today announced that its Board of Directors has approved the repurchase of up to an additional $18 million of the Company’s common stock. AABB’s Q2 2026 quarterly results stated that approximately $11.9 million of common stock was repurchased by the Company through June 30, 2026 under the stock repurchase program initiative that started in Q1 2025. Therefore, the total stock repurchases authorized by the Company is now up to $30 million. The funding for repurchases will come from the cash reserves of the Company.

“This team is here to deliver for shareholders, and we are starting with action,” expressed Timothy Gomez, AABB’s Chief Executive Officer. “Buying back our own shares is a decision, not a gesture, and with this further authorization the program reaches $30 million, supported by the cash we hold. Record third-quarter production revenues are a milestone, but we know shareholders have not seen that reflected in the share price. Our job is to grow revenues and build long-term value, and we intend to do both.”

The management continues exploring different options to increase the revenues and shareholders’ value.

About the stock repurchase program

On October 15, 2026, the Company announced record third-quarter production revenues of approximately $9.3 million and year-to-date production revenues of approximately $24.2 million, increasing cash reserves and gold and silver bullion holdings.

All purchases will be conducted on the open market and will be subject to applicable securities laws. Timing and amounts will depend on market conditions, trading volume and the liquidity of the Company and will be at the discretion of management. The program may be suspended or terminated at any time.

Leadership and future steps

As per the announcement released on October 8, 2026, Timothy Gomez became the Chief Executive Officer of the Company effective October 2, 2026 and Fernando Ramirez was appointed Chief Financial Officer. The new management is in the process of finishing a review of the Company’s projects and priorities. Further information about the Company’s projects and the Class A preferred shares structure will be provided when available.

About Asia Broadband

Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold and silver holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG and AABBS mine-to-token gold and silver-backed cryptocurrencies within its own proprietary GoldAxis Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.

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Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.