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Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio


Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA -- (Marketwired) -- 09/03/13 -- Bonavista Energy Corporation (TSX:BNP) ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.18259 to 1.18892. This increase will be effective on September 16, 2013 (the "Effective Date").

The following are the details of the calculation of the Exchange Ratio:


 
----------------------------------------------------------------------------
                                 Five day                                   
                                 Weighted                                   
                                  Average                                   
                                  Trading                                   
                                 Price of                                   
                                Bonavista                                   
                                   common              Effective    Exchange
Record               Bonavista     shares            Date of the Ratio as of
 Date of    Opening   Dividend  (Prior to Increase inincrease in         the
 Bonavista Exchange per common the end of    Exchange   Exchange   Effective
 Dividend     Ratio      share the Month)   Ratio (1)      Ratio        Date
----------------------------------------------------------------------------
                                                       September            
August 31,                                                   16,            
 2013       1.18259      $0.07     $13.07     0.00633       2013     1.18892
----------------------------------------------------------------------------

(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

1500, 525 - 8th Avenue SW Calgary, AB T2P 1G1 (403) 213-4300 www.bonavistaenergy.com

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