Looks like we are not the first shareholders to be given a dividend of WPMLF
PayChest Intends to Pay a Dividend in Western Pacific Minerals Shares
MEXICO CITY, MEXICO--(CCNMatthews - May 1, 2006) - PayChest, Inc. (OTCBB:PYCT) today announced that it intends to pay its shareholders 1 share of Western Pacific Minerals (a Vancouver BC company) for every share of Paychest held on the record date of today thru May 26, 2006.
In order to accomplish this dividend payment, Western Pacific will have to undergo a forward split of 100 for 1 bringing Paychest's holdings up to 20,000,000,000 shares. Western Pacific is the beneficial owner of 50 silver mining claims in an area of Canada that historically has been rich in silver deposits.
Alejandro Cerda CEO of Paychest stated, "the reason for paying the dividend was the result of a decision to focus Paychest on its new business model and divest our interests of unrelated investments. This new focus gives us an opportunity to reward our shareholders with a dividend in a silver mining company at a time when silver has become more economically feasible to mine and highly profitable.
PayChest also confirms today that the programming for the upgrading of the company's Internet Payment System is on schedule and is now 80% complete.
Negotiations are still ongoing with a number of new potential gateway partners, which will enable PayChest members to fund their transfers and online purchases using credit cards.
The company also plans to launch its own PayChest ATM card which can be funded from a PayChest members account online.
This will enable PayChest members to withdraw funds from any of the one million ATMs in 160 countries around the globe.
PayChest Inc. continues to eye the payment gateway markets not being serviced by PayPal around the world including the Philippines.
According to some reports, the government of the Philippines said its economy grew at the fastest pace in more than eight years because workers overseas sent home more money than ever -- $10.8 billion.
PayChest is uniquely positioned to capture this market segment along with the raging Asian markets like China and the emerging Central and South American economies.
