A further press release with additional details of the NCIB will be issued upon acceptance of the NCIB by the TSX. Currently Parex intends to repurchase the maximum number of shares pursuant to this NCIB, commencing in 2018. The total cost of this program will be funded from existing working capital and/or free cash flow. During 2019, Parex also intends to evaluate implementing a substantial issuer bid in 2019 as another tool for creating additional shareholder value.