CALGARY, ALBERTA -- (Marketwired) -- 08/04/15 -- Bonavista Energy Corporation ("Bonavista") (TSX: BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.33399 to 1.34335. This increase will be effective on August 17, 2015 (the "Effective Date").
The following are the details of the calculation of the Exchange Ratio:
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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
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July 31, August 17,
2015 1.33399 $0.035 $4.99 0.00936 2015 1.34335
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(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.
Contacts:
Bonavista Energy Corporation
Dean M. Kobelka
Vice President, Finance & CFO
Berk Sumen
Manager, Investor Relations
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
(403) 213-4300
www.bonavistaenergy.com
