SYS-CON MEDIA Authors: Roger Strukhoff, Pat Romanski, Doug Masi, Mat Mathews, PR.com Newswire

News Feed Item

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

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.

Contacts:
Bonavista Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300
www.bonavistaenergy.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.