News for 'PCFG' - (Pacific Gold Corp.-Share Buyback Program)
TORONTO, ONTARIO, Sep 28, 2011 (Marketwire via COMTEX) -- Pacific Gold Corp.
(OTCQB:PCFG)(PINK SHEETS:PCFG)
Pacific Gold Corp. ("PCFG") today announced that its Board of Directors has
approved a share repurchase program, effect! ive immediately.
Under the program, PCFG is authorized to repurchase up to 5 million of its
issued and outstanding common shares in the open market or in negotiated
transactions, from time to time, depending on market conditions and other
factors as well as subject to relevant rules under Untied States securities
regulations. It does not obligate the company to make any purchases, including
at any specific time or in any particular situation. The program may be
suspended or discontinued at any time. The share repurchase program will be
funded by the company's available cash, after assessing for the working capital
requirements of the company.
"We believe it is prudent to use a portion of our future cash flow to repurchase
shares. The share repurchase along with a continued commitment to developing our
mining projects are planned to enhance shareholder value." said Mitch Geisler,
COO of PCFG.
As of September 28, 2011, PCF! G had 745,732,651 shares outstanding.
To find out more about Pa cific Gold Corp. (OTCQB:PCFG)(PINK SHEETS:PCFG), visit
the Company's website at www.pacificgoldcorp.com.
About the Company
Pacific Gold Corp.'s business plan provides for the acquisition and development
of production-ready and in-production mining operations. The company is focused
on alluvial gold and base metals operations located in western North America.
Pacific Gold Corp. owns four operating subsidiaries: Nevada Rae Gold, Inc.,
which owns and operates the Black Rock Canyon gold mine, located in
north-central Nevada; Pilot Mountain Resources Inc., which owns Project W, a
large tungsten based deposit in Nevada; Fernley Gold, Inc., which has acquired
exclusive lease rights to mine the Lower Olinghouse Placers in north-western
Nevada; and Pacific Metals Corp., which owns claims in San Juan and Delores
Counties, Colorado, encompassing the historic Graysill Mine.
This news release includes forward-looking statements that refl! ect Pacific Gold
Corp.'s current expectations about its future results, performance, prospects
and opportunities. Pacific Gold Corp. has tried to identify these
forward-looking statements by using words and phrases such as "may", "will",
"expects", "anticipates", "believes", "intends", "estimates", "should",
"typical", "we are confident" or similar expressions. These forward- looking
statements are based on information currently available to Pacific Gold Corp.
and are subject to a number of risks, uncertainties and other factors that could
cause the Company's actual results, performance, prospects of opportunities in
the remainder of 2011 and beyond, to differ materially from those expressed in,
or implied by, these forward-looking statements.
SOURCE: Pacific Gold Corp.
CONTACT: Pacific Gold Corp.
&! nbsp; 416-214-1483
&nb sp; www.pacificgoldcorp.com
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INDUSTRY KEYWORD: Manufacturing and Production\Mining and Metals
SUBJECT CODE: STOCK/OTHER MARKET NEWS
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