Poll results of Annual General Meeting
Reference is made to the notice (the “Notice”) of annual general meeting of shareholders of Sunshine Oilsands Ltd. (the “Corporation”) and the accompanying form of proxy, all dated May 21, 2018.
Unless the context requires otherwise, terms used herein shall have the same meanings as those defined in the Corporation’s management information circular dated May 21, 2018 (the “Circular”).
The Board of Directors (the “Board”) of the Corporation is pleased to announce that all the resolutions as set out in the Notice, were duly passed by shareholders of the Corporation (the “Shareholders”) by way of poll at the annual general meeting held on June 25, 2018 (Hong Kong time) / June 24, 2018 (Calgary time) (the “Annual General Meeting”). Computershare Hong Kong Investor Services Limited, the Corporation’s branch share registrar in Hong Kong, was appointed as the scrutineer for the vote-taking at the Annual General Meeting.
Poll results in respect of all the resolutions proposed at the Annual General Meeting are set out below:
As at the date of the Annual General Meeting, the total number of shares in issue of the Corporation was 5,979,158,172 Shares, of which, 5,948,393,172 Shares entitling the Shareholders to attend and vote for or against the resolutions at the Annual General Meeting. There were no restrictions on any Shareholders to cast votes only against the proposed resolutions at the Annual General Meeting. There were no Shares entitling the Shareholders to attend and abstain from voting in favor of the resolutions at the Annual General Meeting as set out in Rule 13.40 of the Listing Rules.
No Shareholders were required to abstain from voting at the Annual General Meeting under the Listing Rules. No Shareholders had stated their intention in the Circular to vote against or to abstain from voting on the resolutions at the Annual General Meeting.
Executive Chairman
Hong Kong, June 25, 2018
Calgary, June 25, 2018
As at the date of this announcement, the Board consists of Mr. Kwok Ping Sun and Ms. Gloria Pui Yun Ho as executive directors; Mr. Michael John Hibberd, Mr. Hong Luo, Ms. Linna Liu and Ms. Xijuan Jiang as non-executive directors; and Mr. Raymond Shengti Fong, Mr. Jeff Jingfeng Liu, Ms. Joanne Yan and Mr. Yi He as independent non-executive directors.
ABOUT SUNSHINE OILSANDS LTD.
The Corporation is a Calgary based public corporation listed on the Hong Kong Stock Exchange since March 1, 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 petroleum and natural gas 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 of 5,000 barrels per day.
For further enquiries, please contact:
Mr. Kwok Ping Sun
Executive Chairman
Tel: (852) 3188 9298
Email: [email protected]
FORWARD LOOKING INFORMATION
This announcement contains forward-looking information relating to, among other things, the plans and expectations of the Corporation. Such forward-looking information is subject to various risks, uncertainties and other factors. All statements other than statements and information of historical fact are forward-looking statements. The use of words such as “estimate”, “forecast”, “expect”, “project”, “plan”, “target”, “vision”, “goal”, “outlook”, “may”, “will”, “should”, “believe”, “intend”, “anticipate”, “potential”, and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on the Corporation’s experience, current beliefs, assumptions, information and perception of historical trends available to the Corporation, and are subject to a variety of risks and uncertainties including, but not limited to those associated with resource definition and expected reserves and contingent and prospective resources estimates, unanticipated costs and expenses, regulatory approval, fluctuating oil and gas prices, expected future production, the ability to access sufficient capital to finance future development and credit risks, changes in Alberta’s regulatory framework, including changes to regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon and other laws or regulations and the impact thereof and the costs associated with compliance. Although the Corporation believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions and factors discussed in this announcement are not exhaustive and readers are not to place undue reliance on forward-looking statements as the Corporation’s actual results may differ materially from those expressed or implied. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, subsequent to the date of this announcement, except as required under applicable securities legislation. The forward-looking statements speak only as of the date of this announcement and are expressly qualified by these cautionary statements. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. For a full discussion of the Corporation’s material risk factors, see the Corporation’s annual information form for the year ended December 31, 2017 and risk factors described in other documents we file from time to time with securities regulatory authorities, all of which are available on the Hong Kong Stock Exchange at www.hkexnews.hk, on the SEDAR website at www.sedar.com or on the Corporation’s website at www.sunshineoilsands.com.