Sunshine Oilsands Ltd. signed a subscription agreement on 23 September 2026 with private investor Gavin James Thomson to issue 43.70 million new shares at HK$0.160 each, generating gross proceeds of HK$6.99 million (approximately CAD$1.25 million).

The subscription price matches the HK$0.160 five-day average closing price to 22 September 2026 and carries a 1.91 % premium to the HK$0.157 close on 23 September 2026. The transaction will be executed under the company’s existing general mandate, which allows up to 142.27 million shares to be issued; 98.49 million of that capacity has been allotted but not yet issued.

Post-deal, Sunshine’s issued share capital will rise from 711.35 million to 755.05 million shares. The new shares equate to 6.14 % of the current share base and 5.79 % of the enlarged total. Executive Chairman Kwok Ping Sun’s holding will dilute from 24.03 % to 22.64 %, while the new subscriber will own 5.79 %. Public shareholders’ aggregate stake will fall from 75.97 % to 71.57 %.

Completion is contingent on Hong Kong Stock Exchange listing approval and any other necessary regulatory clearances, with a long-stop date of 13 October 2026. Net proceeds are earmarked for imminent debt repayments and general working capital.

This is Sunshine’s first cash-inflow fundraising announced in the past 12 months; previous equity issuances disclosed since October 2025 were structured largely as debt-settlement transactions and remain incomplete.