Sunshine Oilsands Ltd. (SUNSHINE OIL) has amended its ongoing equity placement, signing a third supplemental agreement with Cheer Union Securities on 30 July 2026 that reshapes both timetable and economics.

The closing deadline for the transaction moves to 31 December 2026—five months later than the previously agreed 31 July 2026—providing additional execution flexibility.

Pricing has been reset to HK$0.20 per share, matching the 30 July close yet standing 17.65 % above the HK$0.17 five-day average. To preserve fundraising targets at the lower price, the maximum placement size rises to 205.70 million shares from 114.28 million.

At full take-up, gross proceeds would reach HK$41.14 million (about CAD7.39 million). After estimated expenses of HK$0.82 million, net proceeds are projected at HK$40.32 million (about CAD7.24 million), equating to a net price of HK$0.196 per share.

New shares would equal 28.92 % of current issued capital (711.35 million shares) and 22.43 % of the enlarged 917.06 million share base. Executive Chairman Kwok Ping Sun’s holding would decline from 24.03 % to 18.64 %, while new investors—designated Placees—would own 22.43 %. Public ownership would adjust to 58.93 % from 75.97 %.

Because key terms have changed, the company will seek shareholder approval for the revised specific mandate at a special meeting; a circular is expected by 20 August 2026. Application for listing and dealing approval of the new shares will be filed with the Hong Kong Stock Exchange.

Completion of the placement remains conditional on satisfaction of agreed prerequisites, and the board reiterated its cautionary stance to shareholders and prospective investors when trading the company’s securities.