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Tim Hortons Inc. announces the purchase through private agreement of up to 1,465,000 common shares under its share repurchase

  Tim Hortons Inc. announces the purchase through private agreement of up to
          1,465,000 common shares under its share repurchase program

PR Newswire

OAKVILLE, ON, Feb. 28, 2014

OAKVILLE, ON, Feb. 28, 2014 /PRNewswire/ - Tim Hortons Inc. (TSX: THI, NYSE:
THI) today announced that it will purchase for cancellation up to 1,465,000 of
its common shares pursuant to one or more private agreements with an arm's
length third-party seller. The common shares so purchased will count towards
the 13,726,219 common shares that Tim Hortons is entitled to repurchase for
cancellation (subject to a maximum aggregate purchase price of $440 million)
under its share repurchase program announced on February 20^th, 2014.

Such purchases will be made pursuant to an issuer bid exemption order issued
by the Ontario Securities Commission (the "Order"), and will take place by way
of several transactions to be effected pursuant to the terms of the Order,
which provides that such purchases shall occur by May 31^st, 2014. The price
that Tim Hortons will pay for the common shares purchased by it under such
agreement will be negotiated by Tim Hortons and the seller and will be at a
discount to the prevailing market price of Tim Hortons common shares on the
Toronto Stock Exchange at the time of each purchase.

Information regarding each private purchase, including the number of common
shares purchased and aggregate purchase price paid, will be available on the
System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com
following completion of any such purchase.

Safe Harbor Statement

Certain information in this news release, particularly information regarding
future performance, finances, and plans, expectations and objectives of
management, and other information, constitutes forward-looking information
within the meaning of Canadian securities laws and forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. We
refer to all of these as forward-looking statements. Various factors including
competition in the quick service segment of the food service industry, general
economic conditions and others described as "risk factors" in the Company's
2013 Annual Report on Form 10-K filed on February 25^th, 2014 with the U.S.
Securities and Exchange Commission and the Canadian Securities Administrators,
could affect the Company's actual results and cause such results to differ
materially from those expressed in, or implied by, forward-looking statements.
As such, readers are cautioned not to place undue reliance on forward-looking
statements contained in this news release, which speak only as to management's
expectations as of the date hereof. Forward-looking statements are based on a
number of assumptions which may prove to be incorrect, including, but not
limited to, assumptions about: (i) prospects and execution risks concerning
our growth strategy; (ii) the absence of an adverse event or condition that
damages our strong brand position and reputation; (iii) the absence of a
material increase in competition or in volume or type of competitive activity
within the quick service restaurant segment of the food service industry; (iv)
cost and availability of commodities; (v) the absence of an adverse event or
condition that disrupts our distribution operations or impacts our supply
chain; (vi) continuing positive working relationships with the majority of the
Company's restaurant owners; (vii) the absence of any material adverse effects
arising as a result of litigation; (viii) there being no significant change in
the Company's ability to comply with current or future regulatory
requirements; (ix) the ability to retain our senior management team or the
inability to attract and retain new qualified personnel; * the Company's
ability to maintain investment grade credit ratings; (xi) the Company's
ability to obtain financing on favorable terms; and (xii) general worldwide
economic conditions

We are presenting this information for the purpose of informing you of
management's current expectations regarding these matters, and this
information may not be appropriate for any other purpose. We assume no
obligation to update or alter any forward-looking statements after they are
made, whether as a result of new information, future events, or otherwise,
except as required by applicable law. Please review the Company's Safe Harbor
Statement at www.timhortons.com/ca/en/about/safeharbor.html.

Tim Hortons Inc. Overview

Tim Hortons is one of the largest publicly-traded restaurant chains in North
America based on market capitalization, and the largest in Canada. Operating
in the quick service segment of the restaurant industry, Tim Hortons appeals
to a broad range of consumer tastes, with a menu that includes premium coffee,
hot and cold specialty drinks (including lattes, cappuccinos and espresso
shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini
and classic sandwiches, wraps, soups, prepared foods and other food products.
As of December 29, 2013, Tim Hortons had 4,485 systemwide restaurants,
including 3,588 in Canada, 859 in the United States and 38 in the Gulf
Cooperation Council. More information about the Company is available at
www.timhortons.com.

SOURCE Tim Hortons

Contact:

Scott Bonikowsky: (905) 339-6186 orinvestor_relations@timhortons.com
 
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