Sunshine Oilsands Ltd. is committed to providing our investors and the public with timely and accurate information regarding our business and operating activies.
September 2, 2018

Appointment of Chief Executive Officer

Hong Kong (September 1, 2018) and Calgary, Alberta (September 1, 2018) - The Board of Directors (the “Board”) of Sunshine Oilsands Ltd. (the “Corporation” or “Sunshine”) (HKEX: 2012) is pleased to announce that on September 1, 2018 (Hong Kong time), it has resolved to appoint Mr. Horst Wolfgang Wunschelmeier (“Mr. Wunschelmeier”) as Sunshine’s Chief Executive Officer, effective from September 1, 2018 (Hong Kong time).

Appointment of Chief Executive Officer

The Board is pleased to announce the appointment of Mr. Horst Wolfgang Wunschelmeier as the Corporation’s Chief Executive Officer, effective from September 1, 2018 (Hong Kong time).
Mr. Wunschelmeier has over 30 years of experience in international business development, including but not limited to sales, service, operations, supply chain, engineering, IT, legal affairs, as well as strategic leadership across various organizations across, Europe, North America, and Asia.

Mr. Wunschelmeier is the founder of Global Fortune Resources (USA), an independent consultancy company.

Prior to founding Global Fortune Resources (USA), Mr. Wunschelmeier was the CRO in China for Glen Dimplex Deutschland and Thermal Solutions Applications from 2009 to 2012 and from 2005 to 2008 Manager International Projects, Global Sourcing.

Prior to 2000, Mr. Wunschelmeier held various different management and officer positions at KKW, a Siemens Engineering Company and other German companies.
Mr. Wunschelmeier holds a Master of Business Administration from CCI of Bayreuth, Bavaria/Germany and is certified in International Trading, Purchasing & Procurement and Kaizen/Lean Management.

The Board would like to extend its welcome to Mr. Wunschelmeier on his new appointment.


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


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, on the SEDAR website at or on the Corporation’s website at