Bonavista Energy Corp. Announces Increase to Exchangeable Share Ratio

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