Bonavista Energy Trust Acquires Properties and Completes Financing

On August 20, 2009, Bonavista Energy Trust Ltd. (Bonavista), a mid-sized energy trust, completed an acquisition of natural gas weighted properties located in central Alberta for a cash purchase price of approximately $698 million. Earlier in the month, Bonavista completed a bought deal financing of 25,000,000 subscription receipts at a price of $16.85 each, for gross proceeds of approximately $421.25 million. Proceeds of the financing were used to pay a portion of the purchase price of the acquisition.

The syndicate of underwriters was co-led by TD Securities Inc. and CIBC World Markets Inc. and included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., FirstEnergy Capital Corp., National Bank Financial Inc., Peters & Co. Limited, HSBC Securities (Canada) Inc. and Tristone Capital Inc.

Bonavista was represented by Burnet, Duckworth & Palmer LLP with a team that included Grant Zawalsky, Shannon Gangl and Lindsay Cox (securities); John Cuthbertson, Alicia Quesnel, Jody Wivcharuk, Stuart Money and Candice Jones (oil & gas) and Gina Ross (employment).

The syndicate of underwriters was represented by Blake, Cassels & Graydon LLP with a team that included Scott Cochlan, Dan McLeod, Chris Prokop and Katie McDonald (securities).


Chris D. Prokop Scott R. Cochlan Lindsay P. Cox Jody L. Wivcharuk Candice J. Jones Gina A. Ross Daniel John McLeod John H. Cuthbertson Grant A. Zawalsky Alicia K. Quesnel J. Stuart Money Katie McDonald


Burnet, Duckworth & Palmer LLP Blake, Cassels & Graydon LLP