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TORONTO, ONTARIO–(Marketwire – Sept. 28, 2011) – 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, 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.
As of September 28, 2011, PCFG had 745,732,651 shares outstanding.
To find out more about Pacific 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 reflect 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.
