Clarification announcement regarding results of the second quarter ended June 30, 2016
Reference is made to the announcement of Sunshine Oilsands Ltd. (the "Company") dated August 11, 2016 (Calgary Time) and August 12, 2016 (Hong Kong time) in relation to the Results for the Second Quarter ended June 30, 2016 and an Update on West Ells Progress (the "Announcement").
The Company would like to clarify that due to clerical error, the statement on page 26 of the Announcement that the condensed interim consolidated financial statements of the Company for the three and six months period ended June 30, 2016 (the "Interim Financial Statements") were reviewed by the Company's external auditor was not accurate. The Interim Financial Statements were reviewed by the Audit Committee and approved by the Board only.
As mentioned on page 28 of the Announcement, the Interim Financial Statements were not reviewed by the auditor of the Company as auditor was not able to complete all of their outstanding procedures prior to the release of the Interim Financial Statements. - 2 - An amended management's discussion and analysis for the three and six months period ended June 30, 2016 will be filed on SEDAR (www.sedar.com) in compliance with applicable Canadian securities laws. The amended management's discussion and analysis, showing the marked changes, is set out in Appendix I to this announcement.