According to Zhitong Finance App News, Sunshine Oil Sands (02012) announced that on September 23, 2026 (Hong Kong time/Calgary time), the Company signed a subscription agreement with the subscriber. According to this, the subscriber wishes to subscribe, and the Company wishes to allocate and issue a total of 43.7 million subscribed shares. The subscription price is HK$0.160 per subscribed share, with a cash cost of HK$6.992 million.
The issue price of HK$0.160 is approximately 1.91% of the closing price of HK$0.157 per share as reported by the Stock Exchange on September 23, 2026, Hong Kong time.
Assuming no further issuance of new shares or repurchases of shares, the relevant shares are approximately equivalent to: (i) 6.14% of the Company's current issued share capital at the date of this announcement; and (ii) 5.79% of the Company's total issued share capital which was expanded immediately after the issuance was completed.
After the subscription is completed, it is expected that the maximum amount of proceeds from the subscription will be approximately HK$6.992 million (approximately CAD 1,253,700). The net proceeds from the subscription are intended to be used for the Group's (1) repayment of debts due within one year; and (2) general working capital (including but not limited to staff costs, professional expenses, and other general administrative and operating expenses).
The subscribed shares will have the same status as existing shares in all respects, and will be distributed and issued in accordance with a general mandate. The Company will apply to the Stock Exchange Listing Committee for approval to list and trade the relevant shares. As of the date of this announcement, 984.943 million shares have been distributed under general authorization but have not yet been issued. Shareholders' approval is not required for the allocation and issuance of related shares.