Sunshine Oilsands Ltd. is committed to providing our investors and the public with timely and accurate information regarding our business and operating activies.
February 21, 2020


Hong Kong (February 21, 2020) and Calgary, Alberta (February 21, 2020) - The Board of Directors (the “Board”) of Sunshine Oilsands Ltd. (the “Corporation” or “Sunshine”) (HKEX: 2012) wishes to announce:
Reference was made to the announcement dated September 20 and September 23, 2019 (the “Announcement”) issued by the Corporation in relation to, among other matters, the termination of client-auditor relationship between the Corporation and PwC Canada. Unless defined otherwise, capitalized terms used herein shall have the same meanings as those defined therein.
The Board would like to announce that it has resolved, with the recommendation from audit committee of the Corporation, to appoint ZHONGHUI ANDA CPA Limited (“ZHONGHUI ANDA” or the “Auditor”) as its auditor with immediate effect to fill the casual vacancy and to hold office until the conclusion of the next annual general meeting of the Corporation.
Both the Board and the Auditor are fully aware of the short span of time available for preparing and auditing the 2019 annual results and upon engaged, the Auditor kicks off the job per the agreed audit plan at once. Both Sunshine and the Auditor will use their best endeavor and work together towards the same goal, i.e. to publish the Corporation’s annual results in time for proper compliance with the applicable rules and regulations.
The Board would like to take this opportunity to extend its welcome to ZHONGHUI ANDA on its appointment as the auditor of the Corporation.
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