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March 3, 2014 04:05 PM EST |

CALGARY, ALBERTA -- (Marketwired) -- 03/03/14 -- Bonavista Energy Corporation ("Bonavista") (TSX: BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.22019 to 1.22558. This increase will be effective on March 17, 2014 (the "Effective Date").
The following are the details of the calculation of the Exchange Ratio:
---------------------------------------------------------------------------- Five day Weighted Average Effective Trading Price Date of of Bonavista Increase the Exchange Record Bonavista common shares in increase Ratio as Date of Opening Dividend (Prior to Exchange in of the Bonavista Exchange per common the end of Ratio Exchange Effective Dividend Ratio share the Month) (1) Ratio Date ---------------------------------------------------------------------------- February 28, March 17, 2014 1.22019 $0.07 $15.85 0.00539 2014 1.22558 ----------------------------------------------------------------------------
(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.
Contacts:
Bonavista Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300
www.bonavistaenergy.com
Published March 3, 2014
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