INSIDE INFORMATION UPDATE ON THE WINDING-UP PETITION
This announcement is made by the board of directors (the “Board”) of Sunshine Oilsands Limited (the “Company”) pursuant to Rule 13.25 (1)(b) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”).
Reference is made to the announcement dated September 2, 2026 and August 5, 2026 (Hong Kong and Calgary time) (the “Announcements”) issued by the Company, in relation to, among others, the winding up petition (the “Petition”) presented by Ms. Chu Wai Man (the “Petitioner”) to the High Court of the Hong Kong Special Administrative Region. Unless otherwise specified, capitalized terms used herein shall have the same meanings as those defined in the Announcements.
UPDATE ON THE PETITION
The Board wishes to inform shareholders and potential investors that, as at the date of this announcement, the amounts owed to the Petitioner have already been fully settled (excluding the legal costs).
The Company will make further announcement(s) to inform the shareholders of any significant development regarding the Petition as and when appropriate.
Shareholders and other investors of the Company are advised to exercise caution when dealing in the securities of the Company and are recommended to consult their professional advisers if they are in any doubt about their position and actions that they should take.
ABOUT SUNSHINE OILSANDS LTD.
The Company is a Calgary based public corporation, listed on the Hong Kong Stock Exchange since March 1, 2012. The Company is focused on the development of its significant holdings of oil sands and heavy oil leases in the Athabasca oil sands region. The Company owns interests in oil sands and petroleum and natural gas leases in the Athabasca region of Alberta. The Company is currently focused on executing milestone undertakings in the West Ells project area. West Ells Phase 1 is operational and has an initial production target of 5,000 barrels per day.