Bank of Montreal Announces Specific Share Repurchase Program as Part of its Normal Course Issuer Bid

Toronto (ots/PRNewswire) -

Bank of Montreal ("BMO") (TSX: BMO)(NYSE: BMO) today announced
that the Toronto Stock Exchange ("TSX") has accepted BMO's amended
notice of intention to make a Normal Course Issuer Bid. The notice
has been amended to, among other things, permit the repurchase by BMO
of its common shares pursuant to issuer bid exemption orders issued
by securities regulatory authorities including under specific share
repurchase programs.

BMO also announced that it will purchase common shares under a
specific share repurchase program (the "Program"). BMO will enter
into an agreement (the "Agreement") with a third party to repurchase
common shares through daily purchases that will take place between
June 28, 2017, and July 31, 2017, subject to a maximum of 4,000,000
common shares. The Program will form part of BMO's Normal Course
Issuer Bid for up to 15,000,000 common shares (the "NCIB") announced
on April 27, 2017.

Pursuant to the terms of the Agreement and subject to the terms of
an issuer bid exemption order issued by the Ontario Securities
Commission (the "Order"), the third party will purchase BMO's common
shares on Canadian markets for the purpose of fulfilling its delivery
obligations to BMO under the Agreement. The price that BMO will pay
for common shares purchased by it from the third party under such
Agreement will be negotiated by BMO and the third party and will be
at a discount to the prevailing market price of BMO's common shares
on the Canadian markets at the time of the purchase. BMO currently
intends to purchase the maximum of 4,000,000 common shares under the
Program, however the number of common shares purchased pursuant to
the Program may be less than the Program maximum if, among other
things, it is not possible to purchase common shares within the price
range established prior to commencement of the Program, if trading is
suspended, or as a result of market factors. In accordance with the
terms of the Order, immediately following the completion of the
Program, BMO will issue a news release providing information
regarding the purchases made pursuant to the Program including the
number of common shares purchased and aggregate purchase price paid.

Pursuant to the terms of the Agreement and the Order, all
purchases made by the third party or its agents on the TSX and other
Canadian markets pursuant to the Program will be made in accordance
with the TSX rules applicable to the NCIB, subject to limited
exceptions as provided in the Order. BMO will acquire common shares
from the third party pursuant to the Agreement as part of the NCIB
and such common shares will be cancelled upon purchase by BMO.

Caution Regarding Forward-Looking Statements

Bank of Montreal's public communications often include written or
oral forward-looking statements. Statements of this type are included
in this document, and may be included in other filings with Canadian
securities regulators or the U.S. Securities and Exchange Commission,
or in other communications. All such statements are made pursuant to
the "safe harbor" provisions of, and are intended to be
forward-looking statements under, the United States Private
Securities Litigation Reform Act of 1995 and any applicable Canadian
securities legislation. Forward-looking statements may involve, but
are not limited to, comments with respect to our objectives and
priorities for fiscal 2017 and beyond, our strategies or future
actions, our targets, expectations for our financial condition or
share price, and the results of or outlook for our operations or for
the Canadian, U.S. and international economies.

By their nature, forward-looking statements require us to make
assumptions and are subject to inherent risks and uncertainties.
There is significant risk that predictions, forecasts, conclusions or
projections will not prove to be accurate, that our assumptions may
not be correct and that actual results may differ materially from
such predictions, forecasts, conclusions or projections. We caution
readers of this document not to place undue reliance on our
forward-looking statements as a number of factors could cause actual
future results, conditions, actions or events to differ materially
from the targets, expectations, estimates or intentions expressed in
the forward-looking statements.

The future outcomes that relate to forward-looking statements may
be influenced by many factors, including but not limited to: general
economic and market conditions in the countries in which we operate;
weak, volatile or illiquid capital and/or credit markets; interest
rate and currency value fluctuations; changes in monetary, fiscal,
tax or economic policy; the level of competition in the geographic
and business areas in which we operate; changes in laws or in
supervisory expectations or requirements, including capital, interest
rate and liquidity requirements and guidance and the effect of such
changes on funding costs; judicial or regulatory proceedings; the
accuracy and completeness of the information we obtain with respect
to our customers and counterparties; our ability to execute our
strategic plans and to complete and integrate acquisitions, including
obtaining regulatory approvals; critical accounting estimates and the
effect of changes to accounting standards, rules and interpretations
on these estimates; operational and infrastructure risks; changes to
our credit ratings; political conditions, including changes relating
to or affecting economic or trade matters; global capital markets
activities; the possible effects on our business of war or terrorist
activities; outbreaks of disease or illness that affect local,
national or international economies; natural disasters and
disruptions to public infrastructure, such as transportation,
communications, power or water supply; technological changes;
information and cyber-security; and our ability to anticipate and
effectively manage risks arising from all of the foregoing factors.

We caution that the foregoing list is not exhaustive of all
possible factors. Other factors and risks could adversely affect our
results. For more information, please see the Enterprise-Wide Risk
Management section on pages 79 to 112 of BMO's 2016 Annual Report,
which outlines certain key factors and risks that may affect Bank of
Montreal's future results. Investors and others should carefully
consider these factors and risks, as well as other uncertainties and
potential events, and the inherent uncertainty of forward-looking
statements. Bank of Montreal does not undertake to update any
forward-looking statements, whether written or oral, that may be made
from time to time by the organization or on its behalf, except as
required by law. The forward-looking information contained in this
document is presented for the purpose of assisting our shareholders
in understanding our financial position as at and for the periods
ended on the dates presented, as well as our strategic priorities and
objectives, and may not be appropriate for other purposes.

Assumptions about the performance of the Canadian and U.S.
economies, as well as overall market conditions, and their combined
effect on our business, are material factors we consider when
determining our strategic priorities, objectives and expectations for
our business. In determining our expectations for economic growth and
financial services, we primarily consider historical economic data
provided by the Canadian and U.S. governments, historical
relationships between economic and financial variables, and the risks
to the domestic and global economy. See the Economic Review and
Outlook section of our Second Quarter 2017 Report to Shareholders.

For News Media Enquiries: Paul Gammal, Toronto,
paul.gammal@bmo.com, +1(416) 867-3996; Frederic Tremblay, Montreal,
frederic1.tremblay@bmo.com, +1(514) 877-1873; For Investor Relations
Enquiries: Jill Homenuk, Toronto, jill.homenuk@bmo.com, (416)
867-4770; Christine Viau, Toronto, christine.viau@bmo.com, +1(416)
867-6956; Internet: http://www.bmo.com

ots Originaltext: BMO Financial Group
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Original-Content von: BMO Financial Group, übermittelt durch news aktuell