SUPPLEMENTAL ANNOUNCEMENT SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE
Reference is made to the announcement (the “Announcement”) published by Sunshine Oilsands Ltd. (the “Company”) on September 23, 2026 (Hong Kong and Calgary time). Terms used herein shall have the same meanings as those defined in the Announcement unless the context otherwise requires. The Company wishes to supplement the information below:
The net proceeds from the Subscription are expected to be HK$6,992,000 (approximately CDN$ 1,253,675.68). The net proceeds are expected to be utilized no later than 15 days after Completion. Details of the intended use of the net proceeds are set out below:
|
|
Use of proceeds |
Estimated %of the net proceeds |
Estimated amount |
|
(i) |
Repayment of debt already fallen due - a bond in the amount of US$657,298.55 (approximately HK$5,126,928.69) issued to an independent third-party individual, Ms. Chu Wai Man, which is subject to the winding-up petition dated August 5, 2026 |
approximately 73.3% |
approximately HK$5,127,000 |
|
(ii) |
General working capital - operating expenses - mineral lease
|
approximately 14.0% |
approximately HK$978,000 |
|
(iii) |
General working capital - legal fees
|
approximately 12.7% |
approximately HK$887,000 |
|
|
Total |
100% |
HK$6,992,000 |
*For identification purposes only