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Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA–(Marketwired – Apr 1, 2015) – Bonavista Energy Corporation (“Bonavista”) (BNP.TO) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.30885 to 1.31581. This increase will be effective on April 15, 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

March 31,
2015
1.30885 $0.035 $6.58 0.00696 April 15,
2015
1.31581
(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.

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