Akita Drilling Establishes Automatic Stock Repurchase Plan

AKITA Drilling Ltd. announced that it has established an automatic share repurchase plan with a designated broker to facilitate the repurchase of Class A Non-Voting Shares under AKITA's current normal course issuer bid. The plan has been reviewed by the Toronto Stock Exchange and will be implemented effective Dec. 23. The plan permits the AKITA's broker to repurchase Class A Non-Voting Shares under the normal course issuer bid at any time, including during internal blackout periods and/or when AKITA is in possession of undisclosed material information, without the control or influence of the company, subject to certain price limitations and other parameters prescribed by the plan.