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Non-Tech : PYCT - Paychest, Inc.
PYCT 0.00010000.0%Jan 14 4:00 PM EST

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From: hopster12/8/2011 9:56:45 AM
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SOURCE: PayChest Inc.

December 08, 2011 09:00 ET
PayChest: Hornung (25 Year Senior Sales Executive) Running North American Sales & Marketing

HONG KONG--(Marketwire - Dec 8, 2011) - PayChest Inc. (PINKSHEETS: PYCT) (the "Company") is pleased to announce the appointment of Mibus Inc. and its President, Mr. Patrick V. Hornung as the exclusive North American Sales & Marketing Agent for PayChest's Flushaway® technology sales and marketing management. Mibus Inc. is a private company incorporated solely for carrying out the sales/marketing agency role.

Patrick V. Hornung is a sales and marketing expert, with a 25 year track record, in achieving high sales growth of fast moving consumer goods. He is well versed in the needs of the retail sector and has proven, FMCG and senior sales & brand management experience in organisations such as Nabisco, Sepps Gourmet Foods, and direct experience of selling & marketing feminine sanitary products at Kimberly-Clark in Peru.

Under the direction of Patrick, Mibus Inc. has the discretion to engage other distributors, agents, PR companies etc., as it sees fit, to achieve the target North American sales growth, market penetration and profitability that has been reviewed, discussed, and agreed with PayChest.

Over recent weeks Patrick has guided and directed improvements in product branding, packaging and pricing. These improvements have already made the product more attractive for retailers and consumers and will be published later.

As planned and previously announced, Tobie Oliver is undertaking more sales and marketing activities and will work closely with Patrick.


Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's filings with OTC Markets

Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.

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