The Board of Directors of Alamos has authorized the share buyback program because it believes that, at certain times, the purchase of shares may represent an appropriate use of Alamos' available cash resources when, in the opinion of management, the value of the company's shares exceeds the trading price of such shares. Such purchases would provide additional liquidity to shareholders and may benefit the remaining shareholders by increasing the value of their equity interest in Alamos. Subject to acceptance by the TSX, the NCIB period will commence on April 29, 2013 and will conclude on the earlier of the date on which purchases under the bid have been completed and April 28, 2014. The NCIB permits the company to purchase up to 10% of the public float in its shares, or 11,373,316 Shares. As at April 23, 2013 there were 127,487,786 shares issued and outstanding and the public float was 113,733,160 shares.