SOURCE: PayChest, Inc.

April 16, 2012 09:00 ET

PayChest Receives $1.2 Million Purchase Order

HONG KONG--(Marketwire - Apr 16, 2012) - PayChest, Inc. (PINKSHEETS: PYCT)

PayChest Inc. (the "Company") is very pleased to announce it has received its first Purchase Order worth $1.2 million.

The Purchase Order, from David Shaw & Company in the UK, requires delivery of 16 containers of Mibella flushable and biodegradable sanitary products over 12 months. Each container of product is worth more than US $75,000 in gross revenue to the Company.

David Shaw & Co. is a UK & Ireland distributor with more than 30 years' experience selling to large UK, Irish and European retailers.

Shortly before the product is placed onto store shelves, the Company plans to provide an update of retail stores where Mibella product will be placed and available to consumers.

As announced on February 10, 2012, the Company was negotiating six (6) purchase orders. Today's announcement marks the first of those anticipated purchase orders.

The Company continues to negotiate other purchase orders with the objective of building on this first purchase order and creating a growing pipeline of orders and revenue.

Historical news releases on the Company can be found at http://www.paychest.com/news.htm.

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.

Contact Information

  • Contact Information

    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