/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 03/01/16 -- Bonavista Energy Corporation ("Bonavista") (TSX: BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.40915 to 1.41580. This increase will be effective on March 15, 2016 (the "Effective Date").

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

----------------------------------------------------------------------------
                                  Five day
                                  Weighted
                                   Average
                                   Trading
                                  Price of              Effective
                                  Bonavista              Date of
                                   common                  the     Exchange
  Record               Bonavista   shares    Increase   increase   Ratio as
  Date of    Opening   Dividend   (Prior to     in         in       of the
 Bonavista  Exchange  per common the end of  Exchange   Exchange   Effective
 Dividend     Ratio      share   the Month)  Ratio (1)    Ratio      Date
----------------------------------------------------------------------------
 February                                               March 15,
 29, 2016    1.40915     $0.01      $2.12     0.00665     2016      1.41580
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(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
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
(403) 213-4300
www.bonavistaenergy.com

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