Phonetime Inc. (PHD.TO) announced Friday that it has purchased for cancellation five million common shares of Phonetime Inc., representing approximately 3.15% of the outstanding shares of the Company, at an average price of $0.043 per common share.
The shares were acquired from a Company executive pursuant to an exemption from issuer bid requirements under applicable securities law. Following the cancellation of the purchased shares, the company will have 153.73 million common shares outstanding.
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