Bonavista Energy Corporation Provides Financial Update

April 27, 20205:23 PM Newsfile

Calgary, Alberta – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) announces that the Company, its banking syndicate (the “Lenders“), and the holders (the “Noteholders“) of the Company’s senior unsecured notes have been actively negotiating the reorganization of the Company’s debt maturities and related interim arrangements. In connection with such matters, the Lenders continue to allow the Company access to the swing line loan facility effective as of March 20, 2020 provided for under the existing unsecured $500 million bank credit facility (the “Facility“) for ordinary course operational purposes based upon the company’s current surplus cash position. In conjunction with its discussions with the Noteholders, the Company is deferring interest payments on its senior unsecured notes pending completion of such discussions. There is no certainty that the parties will reach an agreement regarding such matters or that the Lenders will continue to allow the Company to access the Facility. Advisories & Contact