Sunshine Oilsands Ltd. is committed to providing our investors and the public with timely and accurate information regarding our business and operating activies.
September 20, 2019

Change of Auditor

Hong Kong (September 20, 2019) and Calgary, Alberta (September 20, 2019) - The Board of Directors (the “Board”) of Sunshine Oilsands Ltd. (the “Corporation” or “Sunshine”) (HKEX: 2012) wishes to announce:


Due to recent regulatory change in Hong Kong with respect to auditors of overseas entities listed in Hong Kong, the Corporation’s auditor, PricewaterhouseCoopers LLP believes that it would be more appropriate for a Hong Kong based auditor to take up the engagement instead of a Canadian firm like itself. As a result, the Corporation received a notification from PricewaterhouseCoopers LLP dated 17 September 2019 confirming that the cessation of its client-auditor relationship with the Corporation.

Thereafter, the Corporation served a notice to PricewaterhouseCoopers LLP to terminate their appointment as auditor of the Corporation. Meanwhile, the Board is in course of looking for a new auditor to fill the casual vacancy until the next annual general meeting of the Corporation.

PricewaterhouseCoopers LLP has confirmed that it has no disagreement with the Board and there are no other matters connected with its resignation that needs to be brought to the attention of the shareholders and the creditors of the Corporation. The Board and its audit committee also confirmed the same.

The Board would like to take this opportunity to express its sincere gratitude to PricewaterhouseCoopers LLP for its professional services rendered to the Corporation in the past two years.