SOURCE: PayChest Inc.

November 14, 2011 09:00 ET

PayChest: Share Buyback Begins

HONG KONG--(Marketwire - Nov 14, 2011) - 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 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