Mr. George Armoyan reports
G2S2 CAPITAL INC. FILES EARLY WARNING REPORT FOR INVESTMENT IN BONAVISTA ENERGY CORPORATION
G2S2 Capital Inc. has undertaken a disposition of common shares of Bonavista Energy Corp., such that G2S2 no longer holds over 10 per cent of Bonavista's outstanding common shares. G2S2 filed an early warning report today pursuant to National Instrument 62-103 (The Early Warning System and Related Takeover Bid and Insider Reporting Issues).
Specifically, on June 30, 2020, G2S2 disposed of 10 million common shares of Bonavista through the facilities of the Toronto Stock Exchange at a price of five cents.
Prior to the disposition, G2S2 owned and exercised control over a total of 35,611,900 common shares of Bonavista, representing 13.48 per cent of the outstanding common shares.
Immediately after the disposition, G2S2 owns and exercises control over a total of 25,611,900 common shares of Bonavista, representing 9.69 per cent of the outstanding common shares.
The disposition was undertaken for investment purposes. G2S2 may, from time to time, acquire additional common shares or dispose of some or all of its current or additional common shares in the normal course of their its activities.
G2S2 has filed an early warning report relating to this press release on SEDAR under Bonavista's issuer profile.
G2S2 is a privately held investment holding company focused on creating value across a variety of businesses with a long-term horizon. G2S2 is controlled by George and Sime Armoyan.
For further information or to obtain a copy of the early warning report, please contact Rob Jeffery, executive vice-president and chief financial officer of G2S2, at 902-423-4000.
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