Resignation of directors of the corporation
The board of directors (the “Board”) of Sunshine Oilsands Ltd. (the “Corporation”) announces that Mr. Songning Shen and Mr. Wazir Chand Seth have resigned as non-executive directors of the Corporation with effect from 7 July 2014. Mr. Shen and Mr. Seth have each confirmed that they have no disagreement with the Board and there are no matters relating to their resignation as non-executive directors that need to be brought to the attention of the shareholders of the Corporation. Mr. Shen has agreed to accept an advisory role with the Corporation.
The Board takes this opportunity to extend its sincere gratitude to Mr. Shen for his vision in identifying and acquiring significant oil sands holdings for exploration and development. The Board also wishes to acknowledge the hard work and dedication shown by Mr. Shen and Mr. Seth in addressing Sunshine’s opportunities and challenges.
By Order of the Board of Sunshine Oilsands Ltd.
Michael John Hibberd
Chairman
ABOUT SUNSHINE OILSANDS LTD.
The Corporation is a Calgary based public corporation, listed on the Hong Kong Stock Exchange since March 1, 2012 and the Toronto Stock Exchange since November 16, 2012. The Corporation is focused on the development of its significant holdings of oil sands leases in the Athabasca oil sands region. The Corporation owns interests in approximately one million acres of oil sands and P&NG leases in the Athabasca region. The Corporation is currently focused on executing milestone undertakings in the West Ells project area. West Ells has an initial production target rate of 5,000 barrels per day, which will be followed immediately by an approved expansion to a planned production capacity of 10,000 barrels per day. In addition to West Ells activities, the Corporation has received regulatory approval for the Thickwood 10,000 barrels per day SAGD project and has an additional 10,000 barrels per day application in regulatory review for Legend.
For further enquiries, please contact:
Mr. David Sealock
Interim President & CEO
Tel: (1) 403 984 1446
Email: [email protected]