CALGARY, ALBERTA -- (Marketwired - July 2, 2013) -
Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.17038 to 1.17632. This increase will be effective on July 15, 2013 (the "Effective Date").
The following are the details of the calculation of the Exchange Ratio:
Five day Weighted Effective Exchange
Average Trading Date of Ratio
Bonavista Price of the as
Record Dividend Bonavista common Increase increase of
Date of Opening per shares (Prior in in the
Bonavista Exchange common end of to the Exchange Exchange Effective
Dividend Ratio share the Month) Ratio (1) Ratio Date
June 30 July 15,
2013 1.17038 $0.07 $13.80 0.00594 2013 1.17632
(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.
Contact
Bonavista Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
www.bonavistaenergy.com
