Found this posted on Stock watch.

Premium Exploration closes 94,000-share redemption

2011-07-20 19:07 ET - News Release

Mr. Del Steiner reports

PREMIUM EXPLORATION INC. COMPLETES SHARE REDEMPTION FROM 2009

Premium Exploration Inc. has redeemed a total of 94,000 common shares of the company from the management of Premium. The shares have been redeemed at the most recent, 20-day average market price of 43 cents per share. The shares will be cancelled to reduce the number of issued and outstanding listed common shares of the company in accordance with the policies and requirements of the TSX Venture Exchange and applicable securities laws. Management of the company volunteered the shares to comply with the exchange requirement to cancel that number of shares which were previously issued in lieu of cash payment for services of an independent drilling contractor in 2009. Following the redemption, the company has a total of 130,395,519 issued and outstanding listed common shares.