Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Bonavista Shareholders Vote for the Proposed Recapitalization Transaction and Related Matters at the Upcoming Shareholders Meeting

Calgary, Alberta--(Newsfile Corp. - July 17, 2020) -  Bonavista Energy Corporation (TSX: BNP) ("Bonavista" or the "Company") announces Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis") have recommended that Bonavista shareholders vote FOR all of the resolutions relating to the proposed recapitalization of the Company that are outlined in Bonavista's management information circular dated July 2, 2020 prepared in respect of the annual and special meeting of Bonavista shareholders scheduled for July 30, 2020 at 10:30 a.m. (MDT).

ISS and Glass Lewis are prominent, third party proxy advisory firms who, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.

In order to mitigate risks to the health and safety of our communities, securityholders, employees, service partners and other stakeholders associated with the COVID-19 pandemic, this shareholders meeting will be held in a virtual format only and conducted via live audio online webcast. Shareholders may attend and participate in the meeting via such webcast. Bonavista shareholders may also vote their shares by proxy and will have until 5:00 p.m. (MDT) July 28, 2020 to do so.

Bonavista encourages shareholders to read the meeting materials in detail. Copies of the meeting materials, which include instructions as to how to attend the webcast, are available under Bonavista's profile on SEDAR at

Bonavista shareholders who have questions or require assistance in order to vote their shares, can contact Bonavista's Proxy Solicitation Agent, Gryphon Advisors Inc.

Gryphon Advisors Inc.
North American Toll Free: 1-833-292-5847
Calls Outside North America: 1-416-661-6592


Jason E. Skehar
President & CEO


Dean M. Kobelka
Vice President, Finance & CFO

Bonavista Energy Corporation
900, 207 9th Avenue SW
Calgary, AB T2P 1K3 Phone: (403) 213-4300

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