SOURCE: PayChest Inc.

November 18, 2011 09:13 ET

PayChest: First 100 Million Shares Retired in Buyback

HONG KONG--(Marketwire - Nov 18, 2011) - PayChest Inc. (PINKSHEETS: PYCT) (the "Company") is pleased to announce receipt of the first shares to be retired under the recently announced share buyback program.

The Company has purchased and retired a first tranche of 100 million shares. For administrative reasons, the share count will be reflected next week on the company website,,, and through Transfer Online, the company's SEC approved transfer agent.

Companies typically buy back shares to increase shareholder value.

The Company purchased these 100 million shares at the current market price and plans to purchase more shares in coming weeks. This purchase is the first step in a broader buyback program that is planned to last 3 months. The duration is dependent on a number of variables including the share price.

Following the recent announcement of commercial production the Company is now focusing on sales with initial emphasis on North America and Europe.

More details on the product can be found at


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

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

Contact Information

  • Contact:
    Paychest, Inc.

    Tom Hands:
    1-416- 619-5242
    from overseas: +1-416- 619-5242

    Tobie Oliver:
    from overseas: +1-714-274-7206