Sunshine Oilsands Ltd. (HKEX: 02012) disclosed a further postponement in mailing its shareholder circular for the proposed subscription of convertible bonds under a specific mandate—an initiative linked to the settlement of certain debts.

The board now targets despatch “on or before 30 June 2026,” extending the previous deadline of 29 May 2026. Management cited the need for additional time to finalise and incorporate requisite information, including: • detailed terms of the planned convertible-bond subscription and related transactions; • recommendations from the Independent Board Committee to independent shareholders; • an advisory letter from the Independent Financial Adviser; and • the notice convening the special general meeting (SGM).

This marks at least the sixth revision to the timetable following prior delay notices issued on 6 January, 30 January, 27 February, 20 March and 30 April 2026, as well as the original announcement dated 16 November 2025.

The company reiterated that completion of the convertible-bond subscription remains subject to fulfilment of stipulated conditions precedent; therefore, the transaction may or may not proceed. Shareholders and potential investors are urged to exercise caution when dealing in Sunshine Oilsands’ shares.

Sunshine Oilsands, listed on the Hong Kong Stock Exchange since 1 March 2012, focuses on developing its approximately one million acres of oil-sands and petroleum leases in Alberta’s Athabasca region, prioritising ramp-up of its West Ells project with an initial 5,000-barrel-per-day production target.