They could have been buying back shares at any point since 9/28/11 when the PR was released. However, I think you are right about when they will purchase at least some of the planned 5mm shares. Mitch and Rob are no dummies and I think they are well aware that 5mm shares is not that much in the grand scheme of things and will do the buying very selectively......
Pacific Gold Corp. ("PCFG") today announced that its Board of Directors has approved a share repurchase program, effective 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.
