Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio 
CALGARY, ALBERTA -- (Marketwired) -- 06/03/13 -- Bonavista Energy
Corporation ("Bonavista") (TSX:BNP) is pleased to announce the
increase to the Exchange Ratio of its exchangeable shares from
1.16535 to 1.17038. This increase will be effective on June 17, 2013
(the "Effective Date"). 
The following are the details of the calculation of the Exchange

                                  Five day                                  
                              Weighted Average           Effective          
                              Trading Price of            Date of           
                              Bonavista common              the    Exchange 
  Record             Bonavista     shares      Increase  increase  Ratio as 
  Date of   Opening  Dividend   (Prior to the     in        in      of the  
 Bonavista Exchange per common   end of the    Exchange  Exchange  Effective
 Dividend    Ratio     share       Month)      Ratio (1)   Ratio     Date   
  May 31,                                                June 17,           
    2013    1.16535    $0.07       $16.23       0.00503     2013    1.17038 
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 for detailed
corporate information.
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300 
Bonavista Energy Corporation
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
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