CALGARY, ALBERTA--(Marketwired - July 2, 2015) - Bonavista Energy Corporation ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.32739 to 1.33399. This increase will be effective on July 15, 2015 (the "Effective Date").
The following are the details of the calculation of the Exchange Ratio:
| Record Date of Bonavista Dividend | Opening Exchange Ratio |
Bonavista Dividend per common share | Five day Weighted Average Trading Price of Bonavista common shares (Prior to the end of the Month) |
Increase in Exchange Ratio (1) |
Effective Date of the increase in Exchange Ratio |
Exchange Ratio as of the Effective Date |
||||||
| June 30, 2015 | 1.32739 | $0.035 | $7.04 | 0.00660 | July 15, 2015 | 1.33399 |
| (1) | The increase in the Exchange Ratio is calculated by multiplying the Bonavista dividend per common share by the Exchange Ratio immediately prior to the Record Date and dividing by the five day weighted average trading price of Bonavista's common shares. |
A holder of Bonavista exchangeable shares can exchange all or a portion of their holdings into Bonavista common shares, at any time, by giving notice to their investment advisor or Valiant Trust Company at its principal transfer office in Suite 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1.
Please visit our website at www.bonavistaenergy.com for detailed corporate information.
Bonavista is a mid-sized energy corporation committed to maintaining its emphasis on operating high quality oil and natural gas properties, providing a balance of growth and income to our shareholders while ensuring financial strength and sustainability.
Contact Information:
Dean Kobelka
Vice President, Finance & CFO
(403) 213-4300
Berk Sumen
Manager, Investor Relations
(403) 213-4300
www.bonavistaenergy.com