Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio 
CALGARY, ALBERTA -- (Marketwired) -- 07/02/13 -- Bonavista Energy
Corporation ("Bonavista") (TSX:BNP) is pleased to announce the
increase to the Exchange Ratio of its exchangeable shares from
1.17038 to 1.17632. This increase will be effective on July 15, 2013
(the "Effective Date"). 
The following are the details of the calculation of the Exchange

                                    Five day                                
                               Trading Price                                
                    Bonavista   of Bonavista             Effective  Exchange
Record               Dividend  common shares  Increase Date of the  Ratio as
Date of     Opening       per  (Prior to the        in increase in    of the
Bonavista  Exchange    common     end of the  Exchange    Exchange Effective
Dividend      Ratio     share         Month) Ratio (1)       Ratio      Date
June 30,                                                  July 15,          
 2013       1.17038     $0.07         $13.80   0.00594        2013   1.17632

(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.
Bonavista Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300 
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
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