OREANDA-NEWS. CN (TSX: CNR) (NYSE: CNI) announced today that it intends to purchase for cancellation up to 5.175 million of its common shares pursuant to private agreements between CN and arm's-length third-party seller. The purchases will form part of CN's repurchase program for up to 28 million shares announced on Oct. 21, 2014.

Such purchases will be made pursuant and subject to the terms of an issuer bid exemption order issued by the Ontario Securities Commission (Order) and will take place before October 23, 2015. In accordance with the Order, CN's purchases under such private agreements will not exceed, in the aggregate, one-third of the maximum number of shares that it may purchase under its recently-announced share repurchase program, or 9,333,333 common shares. The price that CN will pay for any common shares purchased by it under such agreements will be negotiated by CN and the third-party seller and will be at a discount to the prevailing market price of CN's common shares on the Toronto Stock Exchange at the time of the purchase. Information regarding each purchase, including the number of common shares purchased and aggregate purchase price, will be available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com following the completion of any such purchase.