Sunshine Oilsands Ltd. (the “Corporation,” HKEX: 2012) announced a further delay in the despatch of its circular related to a proposed subscription of convertible bonds under a specific mandate. According to earlier updates on November 16, 2025, and January 6, 2026, the circular was initially expected to be dispatched on or before January 30, 2026. The Corporation now anticipates releasing it on or before February 27, 2026, citing the need for additional time to prepare and incorporate certain information.

The proposed transaction is subject to fulfillment of specific conditions precedent. The Corporation advises shareholders and potential investors to exercise caution when dealing in the shares, as the completion of the transaction may or may not proceed.

Sunshine Oilsands Ltd. is a public corporation based in Calgary, Alberta, listed on the Hong Kong Stock Exchange since March 1, 2012. It has substantial oil sands leases in the Athabasca region, amounting to approximately one million acres. The Corporation’s activities include milestone undertakings at the West Ells project, with an initial production target of 5,000 barrels per day. The Board of Directors comprises executives, non-executives, and independent non-executives from various professional backgrounds.

Forward-looking statements within the announcement are subject to risks and uncertainties, including fluctuations in oil and gas prices, regulatory changes, and capital financing requirements. The Corporation disclaims any intention or obligation to update or revise these statements unless required under applicable securities legislation.