HALIFAX, NS, June 30, 2020 /CNW/ - G2S2 Capital Inc. ("G2S2") announces that it has undertaken a disposition of common shares of Bonavista Energy Corporation ("Bonavista") such that G2S2 no longer holds over 10% of Bonavista's outstanding common shares. G2S2 has filed an early warning report today pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Specifically, on June 30, 2020, G2S2 disposed of 10,000,000 common shares of Bonavista through the facilities of the Toronto Stock Exchange at a price of $0.05 (the "Disposition").
Prior to the Disposition, G2S2 owned and exercised control over an aggregate of 35,611,900 common shares of Bonavista representing 13.48% of the outstanding common shares.
Immediately after the Disposition, G2S2 owns and exercises control over an aggregate of 25,611,900 common shares of Bonavista, representing 9.69% 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 their current or additional common shares in the normal course of their investment activities.
G2S2 has filed an early warning report relating to this press release on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Bonavista's issuer profile.
G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long term horizon. G2S2 is incorporated under the laws of Canada. G2S2 is controlled by George & Simé Armoyan.
For further information or to obtain a copy of the early warning report, please contact Rob Jeffery, Executive Vice President & Chief Financial Officer of G2S2 at 902-423-4000.
SOURCE G2S2 Capital Inc.