Tuscany Energy Ltd. (TSXV:TUS) announces a share repurchase program. Under the bid, the company will repurchase up to 2,300,000 common shares, representing 4.99% of its issued and outstanding share capital. The price which company will pay for any shares repurchased will be the prevailing market price of such shares on the stock exchange at the time of repurchase.

The repurchases will be made on the open market through the facilities of the exchange. The company will cancel the repurchased common shares. The Board believes that the current and recent market prices of company's shares do not give full effect to their underlying value and that, accordingly, the purchase of shares will increase the proportionate share interest of, and be advantageous to, all remaining shareholders.

The bid will also afford an increased degree of liquidity to Tuscany shareholders who would like to dispose of their shares. The bid is subject to the approval of TSX Venture Exchange. The bid will terminate on October 23, 2015 or on the date on which Tuscany has repurchased all of the shares sought pursuant to the bid.

As of October 23, 2014, the company had 46,130,892 common shares issued and outstanding.