Announcements

The Board wishes to announce that on November 28, 2017 (Hong Kong time) after trading hours, a Shareholder’s Loan Agreement was entered into between Prime Union as lender and the Company as borrower, pursuant to which the lender agreed to provide a loan to the Company in the aggregate amount of HK$18,269,768.

The Board wishes to announce that on November 16, 2017 (Hong Kong time) after trading hours, a Shareholder’s Loan Agreement was entered into between Prime Union as lender and the Company as borrower, pursuant to which the lender agreed to provide a loan to the Company in the aggregate amount of HK$15,200,000.

The board of directors of Sunshine Oilsands Ltd. announces that the principal place of business of the Company in Hong Kong has been changed to 20/F, Two Chinachem Central, No.26 Des Voeux Road Central, Hong Kong with effect from November 1, 2017.

The board of directors (the “Board”) of Sunshine Oilsands Ltd. announces that a meeting of the Board will be held at on or about 8:00 p.m. on Monday, November 6, 2017 in Calgary, Canada (on or about 11:00 a.m. Hong Kong time on Tuesday, November 7, 2017).

The Corporation had given notice to Deloitte LLP to terminate their appointment as auditor of the Corporation with effect from October 18, 2017 for the purpose of maintaining good corporate governance.

On October 18, 2017 in Hong Kong, the Corporation entered into a Debt Settlement Agreement with Creditor B, being an Independent Third Party and a creditor to the Corporation, pursuant to which the Corporation will allot and issue the Relevant Shares to Creditor B as full and final settlement of the Partial Debt.

Reference is made to the announcements of the Corporation dated August 5, 2014, August 8, 2014 and February 5, 2016 in relation to, among other things, the offering of USD200 million principal amount of senior secured notes.

The Corporation was informed by its major shareholder, Mr. Sun Kwok Ping, the executive director and Chairman of the board of directors of the Corporation, that on September 14, 2017, Mr. Sun acquired a total of 3,500,000 shares of the corporation through on-market purchases for an aggregate consideration of HK$770,000.

The Corporation was informed by its major shareholder, Mr. Sun Kwok Ping, the executive director and Chairman of the board of directors of the Corporation, that on September 4, 2017, Mr. Sun acquired a total of 4,000,000 shares of the corporation through on-market purchases for an aggregate consideration of HK$952,000.

The Board of Directors of Sunshine Oilsands Ltd. wishes to clarify and supplement the announcement dated August 24, 2017 (Hong Kong time) in relation to the lapse of Subscription Agreement:

The Board is pleased to announce that on August 24, 2017 (Hong Kong time), the Shareholders’ Loan Agreement was entered into between Prime Union as lender and the Company as borrower, pursuant to which the lender agreed to provide a term loan to the Company in the aggregate amount of HK$14,058,885.