/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 02/01/16 -- Bonavista Energy Corporation ("Bonavista") (TSX: BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.40050 to 1.40915. This increase will be effective on February 16, 2016 (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
                                   shares                    Date   Exchange
Record               Bonavista  (Prior to                  of the   Ratio as
Date of     Opening   Dividend        the Increase in    increase     of the
Bonavista  Exchange per common     end of    Exchange in Exchange  Effective
Dividend      Ratio      share the Month)   Ratio (1)       Ratio       Date
----------------------------------------------------------------------------
January                                              February 16,
 31, 2016   1.40050      $0.01      $1.62     0.00865        2016    1.40915
----------------------------------------------------------------------------

(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 Computershare at its principal transfer office in Suite 600, 530 - 8th Avenue S.W., Calgary, Alberta, T2P 3S8.

Please visit our website at www.bonavistaenergy.com for detailed corporate information.

Bonavista is a mid-sized dividend paying energy corporation focused on the efficient development of high quality oil and natural gas assets while providing sustainable value to shareholders.

Contacts:
Dean M. Kobelka
Vice President, Finance & CFO

Berk Sumen
Manager, Investor Relations

Bonavista Energy Corporation
(403) 213-4300
www.bonavistaenergy.com

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