PhosCan Chemical Corp PCCLF

RE: Normal Course Issuer Bid - VERY SMART

[RX4H1N1]

PhosCan Chemical Corp. (TSX:FOS) ("PhosCan") announces that it intends to commence a normal course issuer bid (the "Bid") to repurchase up to 12 million of its common shares, representing approximately 8.8% of the public float of PhosCan. As of October 12, 2011, there were 172,581,228 issued and outstanding common shares of PhosCan. Purchases will be made through the facilities of theTorontoStock (the "TSX") or alternative Canadian trading platforms at the prevailing market price of the shares. All shares purchased under the Bid will be cancelled.

PhosCan has received approval from the TSX to commence the Bid on October 18, 2011. The Bid will terminate on October 17, 2012 or on any such earlier date as PhosCan may complete its purchases or otherwise terminate the Bid. Pursuant to TSX policies, daily purchases made by PhosCan pursuant to the Bid will not exceed 58,129 common shares, being 25% of the averagedailytrading of 232,517 shares on the TSX for the past six months, subject to certain exceptions (including block purchases) prescribed by the TSX.


If the company did buy back the maximum allowed number of shares it would take 207 trading days to do so.........or about 42 weeks (5 trading days per week)


12,000,000 divided by 58,129 is how the number of trading days was calculated.