Press Release Source: Golden Phoenix Minerals, Inc. On Thursday August 11, 2011, 2:29 pm EDT
SPARKS, NV--(Marketwire -08/11/11)- Golden Phoenix Minerals, Inc. (the "Company") (OTC.BB: GPXM.OB - News) is pleased to report it has repurchased and cancelled 500,000 shares of the Company's Common Stock as part of its ongoing stock buyback program.
"Golden Phoenix is continuing with its stock buyback program," stated Tom Klein, CEO of Golden Phoenix. "Based on current market dynamics, we believe the repurchase program is in the best interests of our shareholders."
In the Company's September 28, 2010 press release, it announced the Board of Directors had approved the repurchase of an aggregate of up to 20% of its outstanding Common Stock, effective immediately.
The repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program has continued since September 2010, and the Company has made additional repurchases as disclosed in its periodic filings with the U.S. Securities and Exchange Commission. The program is expected to continue for a full twelve (12) months from its start date, unless extended or shortened by the Board of Directors. |
