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, August 30, 2024, September 30, 2024 and October 31, 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
As mentioned in the Announcement dated October 31, 2024, the Company was required to provide information, among others, the rationale and background of the transaction, the information about the Creditor, etc. to the Canadian regulatory authority. As at the date hereof, the Company is awaiting for their feedback, if any. Given that the Company and the Creditor entered into a sixth supplemental agreement (the “Sixth Supplemental Agreement”) on November 30, 2024, whereby the parties agreed to extend the closing date from November 30, 2024 to December 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, December 1, 2024
Calgary, December 1, 2024
As at the date of this announcement, the Board consists of Mr. Kwok Ping Sun and Ms. Gloria Pui Yun Ho as executive directors; Mr. Michael John Hibberd, Ms. Linna Liu and Ms. Xijuan Jiang as non-executive directors; and Mr. Yi He, Ms. Jue Pang and Mr. Guangzhong Xing as independent non-executive directors.
*For identification purposes only