G2S2 Capital Inc. Announces Increased Investment in Bonavista Energy Corporation

HALIFAX, Aug. 26, 2019 /CNW/ - G2S2 Capital Inc. ("G2S2") announces that it has acquired ownership of, and control over, 2,000,000 common shares of Bonavista Energy Corporation ("Bonavista"), increasing G2S2's holdings, together with certain parties with whom it is deemed to be a joint actor, to 35,466,800 common shares representing 13.78% of Bonavista's outstanding common shares. G2S2 is a corporation incorporated under the laws of Canada and operates as an investment holding company. G2S2 is controlled by George & Simé Armoyan. 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 August 26, 2019, G2S2 acquired 2,000,000 common shares of Bonavista through the facilities of the Toronto Stock Exchange at a price of $0.50 per share (the "Acquisition"). Prior to the Acquisition, G2S2, together with deemed joint actors, owned and exercised control over an aggregate of 33,466,800 common shares of Bonavista, representing 13.00% of the outstanding common shares. Immediately after the Acquisition, G2S2, together with deemed joint actors, owns and exercises control over an aggregate of 35,466,800 common shares of Bonavista, representing 13.78% of the outstanding common shares.

The shares were purchased for investment purposes. G2S2, together with deemed joint actors, 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.

The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Bonavista's issuer profile.

About G2S2

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.

SOURCE G2S2 Capital Inc.