On November 2, 2015, the Board of Directors consented to a further extension of the closing date for the remaining 413,520,000 Shares (HK $310,140,000 or approximately CDN $53.5 million) subscribed for by Prime Union to December 2, 2015 from November 2, 2015. The remaining subscribed Shares can be closed in one or more tranches with the last tranche closing no later than December 2, 2015.

To date, the Corporation has completed the closing of 111,214,210 subscription Shares authorized under the Specific Mandate for total gross proceeds of HK$ 83,410,658 (approximately CDN $14.1 million) and the allotment and issue of 111,214,210 Shares at a price of HK$0.75 per Share (approximately CDN $0.13 per Share).

Tags: Sunshine Oilsands Ltd.