CALGARY, ALBERTA--(Marketwired - Feb 2, 2015) - Bonavista Energy Corp. ("Bonavista") (TSX:BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.29497 to 1.30251. This increase will be effective on February 17, 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
January 30, 2014
1.29497
$0.035
$6.01
0.00754
February 17, 2015
1.30251
(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
Bonavista Energy Corp. Glenn A. Hamilton Senior Vice President & CFO (403) 213-4300 Berk Sumen Manager, Investor Relations (403) 213-4300 1500, 525 - 8th Avenue SW Calgary, AB T2P 1G1 www.bonavistaenergy.com
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