Methanex (MEOH) to Repurchase up to ~4.5M Shares

Methanex Corporation (NASDAQ: MEOH) announced today that its Board of Directors has approved a Normal Course Issuer Bid ("NCIB") whereby the Company will purchase for cancellation up to 4,492,141 common shares ("Shares"), representing approximately 5% of the 89,842,838 Shares issued and outstanding.

John Floren, President and CEO of Methanex commented, "Our announcement of a new share repurchase program builds on a long track record of returning excess cash to shareholders. Our methanol production and sales volumes are at record levels and we are benefiting from a strong methanol price environment. With a solid liquidity position and strong cash generation capability, we have the financial strength and flexibility to meet all of our financial and capital commitments, pursue investment opportunities, and continue to return excess cash to shareholders."

Purchases pursuant to the NCIB will be made on the open market through the facilities of the NASDAQ Global Select Market ("NASDAQ") and alternative trading systems in the United States pursuant to Rule 10b-18 under the U.S. Securities Exchange Act of 1934. Notification of the NCIB has been provided to NASDAQ. Purchases under the program will commence on March 13, 2017 and end no later than March 12, 2018. Purchases will be made from time to time at the then current market price of the Shares and all Shares purchased will be cancelled. Subject to certain exceptions for block purchases, daily repurchases under the program will not exceed 25 percent of the Company's average daily trading volume for the four week period preceding the date of purchase. The Company has entered into an automatic securities purchase plan with its broker in connection with purchases to be made under this program.

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