|Bid||0.0450 x 0|
|Ask||0.0500 x 0|
|Day's Range||0.0450 - 0.0500|
|52 Week Range||0.0450 - 0.6300|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov. 03, 2020 - Nov. 09, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.20|
CALGARY — Bonavista Energy Corp. says it has completed a recapitalization plan that will result in a nickel-per-share payout for its shareholders and its delisting from the Toronto Stock Exchange.CEO Jason Skehar says the transaction removes crippling debt and means the oil and gas producer will be able to "pledge sustainability" in almost any commodity price environment.Bonavista announced in June an agreement with lenders that would eliminate about half of its outstanding debt but leave existing shareholders with only seven per cent of the company.The proposal, since approved by shareholders, debtholders and the courts, is designed to reduce total debt by about $483 million or 56 per cent and lower annual cash interest payments by $16 million or 43 per cent.Under the deal, existing shareholders were given the option to sell their shares to G2S2 Capital, a company controlled by director and 16 per cent shareholder George Armoyan, for five cents each.Bonavista recently reported second-quarter production of 65,300 barrels of oil per day, down two per cent from the first quarter mainly due to the voluntary curtailment of 1,150 boe/d due to volatile pricing.This report by The Canadian Press was first published Aug. 12, 2020.Companies in this story: (TSX:BNP)The Canadian Press
Calgary, Alberta--(Newsfile Corp. - August 12, 2020) - Bonavista Energy Corporation (TSX: BNP) ("Bonavista" or the "Company") today announced the completion of its previously announced recapitalization transaction (the "Recapitalization Transaction") as further described in the Company's management information circular dated July 2, 2020 and implemented pursuant to a court-approved plan of arrangement under the Canada Business Corporations Act (the "Plan of Arrangement"). As previously announced, pursuant to the approvals obtained in respect of the ...
Calgary, Alberta--(Newsfile Corp. - August 4, 2020) - Bonavista Energy Corporation (TSX: BNP) ("Bonavista" or the "Company") today announced that, in connection with the previously announced recapitalization transaction (the "Recapitalization Transaction") described in the Company's management information circular dated July 2, 2020, the Company has obtained a final order (the "Final Order") from the Court of Queen's Bench of Alberta approving the plan of arrangement under the Canada Business Corporations Act (the "Plan ...