|By Marketwired .||
|June 2, 2014 04:18 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 06/02/14 -- Bonavista Energy Corporation ("Bonavista") (TSX: BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.23596 to 1.24133. This increase will be effective on June 16, 2014 (the "Effective Date").
The following are the details of the calculation of the Exchange Ratio:
---------------------------------------------------------------------------- Five day Weighted Average Trading Price of Effective Bonavista Date of common the Exchange Record Bonavista shares Increase increase Ratio as Date of Opening Dividend (Prior to in in of the Bonavista Exchange per common the end of Exchange Exchange Effective Dividend Ratio share the Month) Ratio (1) Ratio Date ---------------------------------------------------------------------------- May 30, June 16, 2014 1.23596 $0.07 $16.12 0.00537 2014 1.24133 ---------------------------------------------------------------------------- (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 Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO
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