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G2S2 Capital Inc. Provides Update regarding Investment in Bonavista Energy Corporation

HALIFAX , Nov. 5, 2019 /CNW/ - G2S2 Capital Inc. ("G2S2") announces that on November 4, 2019 , G2S2 entered into an agreement with Bonavista Energy Corporation ("Bonavista") relating to the nomination of directors to the board of directors of Bonavista . Under the agreement, Bonavista has agreed to nominate and recommend George Armoyan for election as a director at Bonavista's 2020 annual general meeting.

G2S2, together with certain parties with whom it is deemed or presumed to be a joint actor, has ownership of, and control over, 41,961,400 common shares of Bonavista, representing 16.30% of Bonavista's outstanding common shares.  Under applicable Canadian provincial securities legislation, G2S2 is deemed to be a joint actor with George & Simé Armoyan, and is presumed to be a joint actor with Clarke Inc. ("Clarke"), an associate of G2S2 as defined in National Instrument 62-104, and Clarke's subsidiary, Quinpool Holdings Partnership (collectively, the "Presumed and Deemed Joint Actors"). The shares of Bonavista are held for investment purposes. G2S2, together with Presumed and 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.

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.

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.

This news release does not constitute an admission that any entity named in this release owns or controls any of the securities or is a joint actor with another named entity.

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.

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