PayChest: Share Buyback Begins
15 November 2011 - 1:00AM
Marketwired
Paychest, Inc. (PINKSHEETS: PYCT) (the "Company") is pleased to
announce the early start of its share buyback program, as
previously announced.
This action follows last week's announcement regarding the start
of Flushaway® commercial production. Flushaway® is a uniquely
flushable and biodegradable range of patented sanitary products,
expected to be price competitive to industry majors.
As stated in the news release on September 15, 2011, the Company
planned to buy back shares when circumstances permit. The start of
commercial production and other business developments have created
an opportunity to start the share buyback earlier than planned.
Management are taking advantage of this opportunity as part of a
broader plan to maximize shareholder value.
The share buyback program has already begun and updates to the
share count will be published on the company website, on
www.pinksheets.com and through Transfer Online, the company's
recently appointed SEC approved transfer agent.
The Company is focusing its efforts on sales and will make an
announcement when information is available.
More details on the product can be found at
www.paychest.com.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, including those
described in the Company's filings with OTC Markets
http://www.otcmarkets.com/stock/PYCT/financials.
Certain statements contained in this release that are not
historical facts constitute forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995,
and are intended to be covered by the safe harbors created by that
Act. Reliance should not be placed on forward-looking statements
because they involve unknown risks, uncertainties and other factors
which may cause actual results, performance or achievements to
differ materially from those expressed or implied. Forward-looking
statements may be identified by words such as estimates,
anticipates, projects, plans, expects, intends, believes, should
and similar expressions and by the context in which they are used.
Such statements are based upon current expectations of the Company
and speak only as of the date made.
Historical news releases on the Company can be found at
http://www.paychest.com/news.htm.
Contact: Paychest, Inc. ir@paychest.com Tom Hands: 1-416-
619-5242 from overseas: +1-416-619-5242 Tobie Oliver:
1-800-624-7479 from overseas: +1-714-274-7206
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