RECORD DATE FOR THE SPECIAL GENERAL MEETING TO BE HELD ON MAY 24, 2020 (CALGARY TIME) / MAY 25, 2020 (HONG KONG TIME) IN RESPECT OF PROPOSED ISSUANCE OF CONVERTIBLE BONDS TO CONNECTED PERSON UNDER SPECIFIC MANDATE
CALGARY (April 6, 2020) and HONG KONG (April 6, 2020) – Reference is made to the announcement dated April 1, 2020 issued by Sunshine Oilsands Ltd (“Sunshine” or the “Corporation”) in relation to, among others, the proposed issuance of fixed rate convertible bonds in principal amount of HK$ 72,000,000 to connected person (as defined under the Listing Rules) under the Specific Mandate (the “Proposed Issuance”). Unless defined otherwise, terms used herein shall have the same meanings as those defined therein.
The board of directors (the “Board”) of the Corporation hereby announces that it has approved to convene a special general meeting of the shareholders of the Corporation (the “Shareholders”) on Monday, May 25, 2020 (Hong Kong time) / Sunday, May 24, 2020 (Calgary time) (the “SGM” or the “Special General Meeting”) to consider and approve, among other things, the Proposed Issuance. The Board has also decided to fix the record date for the determination of the Shareholders who are entitled to receive the notice of, and to attend and vote at, the SGM or any adjournment thereof, at 4:30 p.m. on Thursday, April 23, 2020 (Hong Kong time) / at 4:30 p.m. on Wednesday, April 22, 2020 (Calgary time) (the “Record Date”).
Only Shareholders as at the Record Date are entitled to receive notice of the Special General Meeting. Shareholders on record will be entitled to vote the Shares held by them as at the Record Date, unless any such Shareholder properly transfers the Shares after the Record Date and the transferee of those Shares, having produced properly endorsed certificates evidencing such shares or having otherwise established ownership of such Shares, demands, at least ten (10) days before the Special General Meeting, that the transferee’s name be included in the list of Shareholders entitled to vote at the Special General Meeting, in which case such transferee shall be entitled to vote such Shares at the Special General Meeting.
A notice of the Special General Meeting which contains, among other things, the time, venue and the detailed agenda of the SGM, along with a circular concerning the matter(s) to be considered at the SGM, is expected to be sent to the Shareholders on or around April 24, 2020 (Hong Kong time) and will be available on the Hong Kong Stock Exchange’s website at www.hkexnews.hk, the SEDAR website at www.sedar.com or the Corporation’s website at www.sunshineoilsands.com
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]
Website: www.sunshineoilsands.com