Record date of the Annual and Special Meeting to be held on June 25, 2014
Sunshine Oilsands Ltd. (the “Corporation”) hereby announces that its board of directors (the “Board”) has approved to convene an annual and special meeting of the shareholders on Wednesday, June 25, 2014 (Hong Kong time) (the “AGM”). The Board has also decided to fix the record date for the determination of the shareholders who are entitled to receive the notice of, and to attend and vote at, the AGM or adjournment thereof, at 4.30 p.m. on Monday, May 12, 2014 (Hong Kong time) (the “Record Date”).
Only shareholders as at the Record Date are entitled to receive notice of the AGM. Shareholders on record will be entitled to vote their shares held by them as at the Record Date, unless any such shareholder properly transfers the shares after the Record Date and the transferee of those shares, having produced properly endorsed certificates evidencing such shares or having otherwise established ownership of such shares, demands, at least ten (10) days before the AGM, that the transferee’s name be included in the list of shareholders entitled to vote at the AGM, in which case such transferee shall be entitled to vote such shares at the AGM.
The Corporation’s annual report containing, amongst other things, its financial statements for the year ended December 31, 2013 and management’s discussions on the Corporation’s results and performance for the same period, is expected to be sent to shareholders and made available on the Corporation’s website at http://www.sunshineoilsands.com, and the website of the Stock Exchange of Hong Kong Limited (the “Stock Exchange”) at http://www.hkexnews.hk/, by April 30, 2014 (Hong Kong time). A notice of the AGM which contains, amongst other things, the time, venue and the detailed agenda of the AGM, along with a management information circular concerning the matters to be considered at the AGM, is expected to be sent to shareholders by the end of May, 2014 (Hong Kong time) and will be available on the Corporation’s website, the Stock Exchange’s website as well as http://www.sedar.com.
Michael John Hibberd
Co-Chairman
and
Songning Shen
Co-Chairman
This announcement contains forward-looking information relating to, among other things: (a) the future financial performance and objectives of Sunshine; and (b) the plans and expectations of the Corporation. Such forwardlooking information is subject to various risks, uncertainties and other factors. All statements other than statements and information of historical fact are forward-looking statements. The use of words such as “estimate”, “forecast”, “expect”, “project”, “plan”, “target”, “vision”, “goal”, “outlook”, “may”, “will”, “should”, “believe”, “intend”, “anticipate”, “potential”, and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on Sunshine’s experience, current beliefs, assumptions, information and perception of historical trends available to Sunshine, and are subject to a variety of risks and uncertainties including, but not limited to those associated with resource definition and expected reserves and contingent and prospective resources estimates, unanticipated costs and expenses, regulatory approval, fluctuating oil and gas prices, expected future production, the ability to access sufficient capital to finance future development and credit risks, changes in Alberta’s regulatory framework, including changes to regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon and other laws or regulations and the impact thereof and the costs associated with compliance. Although Sunshine believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions and factors discussed in this announcement are not exhaustive and readers are not to place undue reliance on forward-looking statements as our actual results may differ materially from those expressed or implied. Sunshine disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, subsequent to the date of this announcement, except as required under applicable securities legislation. The forward-looking statements speak only as of the date of this announcement and are expressly qualified by these cautionary statements. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. For a full discussion of our material risk factors, see “Risk Factors” in the AIF, “Risk Management” in our current MD&A for the year ended December 31, 2013 and risk factors described in other documents we file from time to time with securities regulatory authorities, all of which are available on the Hong Kong Stock Exchange at www.hkexnews.hk, on the SEDAR website at www.sedar.com or our website at www.sunshineoilsands.com.
In addition, information and statements in this announcement relating to “reserves” and “resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and that the reserves and resources described can be profitably produced in the future. The assumptions relating to Sunshine’s reserves and resources are contained in the reports of GLJ Petroleum Consultants Ltd. and DeGolyer and MacNaughton Canada Limited, each dated effective December 31, 2013. For additional information regarding the specific contingencies which prevent the classification of Sunshine’s contingent resources as reserves see “Statement of Reserves Data and Other Oil and Gas information” in our most recent AIF. The estimates of reserves and future net revenue for individual properties in this announcement may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation. “Contingent Resources” has the meaning given to that term in the AIF.
About Sunshine Oilsands Ltd.
Sunshine is a Calgary based public company, listed on the SEHK since March 1, 2012 and the Toronto Stock Exchange since November 16, 2012. Sunshine is focused on the development of its significant holdings of oil sands leases in the Athabasca oil sands region. The Corporation owns interests in approximately one million acres of oil sands and P&NG leases in the Athabasca region. The Corporation is currently focused on executing milestone undertakings in the West Ells project area. West Ells has an initial production target rate of 5,000 barrels per day, which will be followed immediately by an approved expansion to a planned production capacity of 10,000 barrels per day. In addition to West Ells activities, Sunshine has received regulatory approval to the Thickwood 10,000 barrels per day SAGD project and has an additional 10,000 barrels per day application in regulatory review for Legend.
For further enquiries, please contact:
Mr. David Sealock
Interim President & CEO
Tel: (1) 403 984 1446
Email: [email protected]