Sunshine Oilsands Ltd. is committed to providing our investors and the public with timely and accurate information regarding our business and operating activies.
September 30, 2024
EXTENSION OF CLOSING DATE FOR ISSUANCE OF NEW SHARES UNDER GENERAL MANDATE
Reference is made to the announcements of Sunshine Oilsands Ltd. (the “Company”) (HKEX: 2012) dated May 10, 2024, June 7, 2024, July 31, 2024 and August 30, 2024 (the “Announcements”) in relation to, among others, the proposed issuance of 48,695,736 Relevant Shares of the Company to the Creditor as full and final settlement of the Debt Payable under the General Mandate pursuant to the Settlement Agreement. Unless otherwise defined, capitalised terms used herein have the same meanings as defined in the Announcements.
EXTENSION OF CLOSING DATE
The Company was listed on the Toronto Stock Exchange in 2012 before it was delisted in 2015 and remains as a reporting issuer since then. The Company recently received enquiry from the Canadian regulatory authority regarding, among others, the rationale and background of the transaction, the information about the Creditor, etc. As additional time is needed to provide information to the authority, the Company and the Creditor entered into a fourth supplemental agreement (the “Fourth Supplemental Agreement”) on September 30, 2024, whereby the parties agreed to extend the closing date from September 30, 2024 to October 31, 2024 (or such later date as may be agreed between the Company and the Creditor).
Save as the aforesaid change, all other terms and conditions of the Settlement Agreement remain in full force and effect.
By Order of the Board of Sunshine Oilsands Ltd.
Kwok Ping Sun
Executive Chairman
Hong Kong, September 30, 2024
Calgary, September 30, 2024