Bonavista Energy Corporation
TSX : BNP

Bonavista Energy Corporation

July 04, 2016 19:14 ET

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwired - July 4, 2016) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.42129 to 1.42573. This increase will be effective on July 15, 2016 (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, 2016 1.42129 $0.01 $3.20 0.00444 July 15, 2016 1.42573
(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 Computershare at its principal transfer office in Suite 600, 530 - 8th Avenue S.W., Calgary, Alberta, T2P 3S8.

Please visit our website at www.bonavistaenergy.com for detailed corporate information.

Bonavista is a mid-sized dividend paying energy corporation focused on the efficient development of high quality oil and natural gas assets while providing sustainable value to shareholders.

Contact Information

  • Dean M. Kobelka
    Vice President, Finance & CFO

    Berk Sumen
    Investor Relations Lead

    Bonavista Energy Corporation
    1500, 525 - 8th Avenue SW
    Calgary, AB T2P 1G1
    (403) 213-4300
    www.bonavistaenergy.com