Sunshine Oilsands Ltd. announced a further delay in sending its shareholder circular related to the proposed subscription of convertible bonds under a specific mandate intended for debt settlement. The document, previously scheduled for distribution on or before 31 August 2026, is now expected to be dispatched no later than 30 October 2026 to allow additional time for incorporating required information.

The delayed circular will outline: • Full terms of the convertible bond subscription and the associated specific mandate. • Recommendations from the Independent Board Committee to independent shareholders. • An advisory letter from the Independent Financial Adviser. • Notice convening the forthcoming special general meeting.

Today’s notice follows a series of earlier announcements, beginning with the initial transaction disclosure on 16 November 2025 and subsequent delay updates issued on 6 January, 30 January, 27 February, 20 March, 30 April, 29 May, and 31 July 2026, alongside closing-date extensions announced on 13 February and 31 August 2026.

Management reiterated that completion of the convertible bond subscription remains conditional; therefore, the transaction may or may not proceed. Shareholders and potential investors are urged to exercise caution in dealing in the company’s shares.

Sunshine Oilsands is a Calgary-based oil sands developer holding interests in roughly one million acres in Alberta’s Athabasca region. Current operational focus remains on the West Ells project, which targets initial production of 5,000 barrels per day. The board comprises Executive Chairman Kwok Ping Sun, Executive Director Gloria Pui Yun Ho, two non-executive directors, and three independent non-executive directors.