Sunshine Oilsands Obtains Conditional Approval to List on the Toronto Stock
HONG KONG, Nov. 8, 2012 /CNW/ - Sunshine Oilsands Ltd. ("Sunshine") (Stock
Code: 2012.HK) is pleased to announce that it has obtained conditional
approval to list its Class "A" Common Voting Shares (the "Common Shares") on
the Toronto Stock Exchange (the "TSX") under the symbol "SUO". The Common
Shares are expected to commence trading on the TSX after the TSX's conditions
for listing are satisfied and the TSX issues its final exchange bulletin and
its approval of the listing of the Common Shares.
Sunshine will issue an announcement once the TSX confirms satisfaction of its
listing conditions and will then advise of the expected listing date. Sunshine
will maintain its primary listing on The Stock Exchange of Hong Kong.
Mr. Songning Shen, Co-Chairman of Sunshine Oilsands, said, "The Company is
planning for a secondary listing in Toronto, which will not raise additional
funds as it is a listing by introduction. A dual listing on Hong Kong and
Canada has always been part of the Company's business development plans, and
the management remains committed to its strategic development in Asia and
"Sunshine Oilsands has focused on the development of its oil sands business in
Canada since 2007. A secondary listing in Canada will help expand the
Company's investor base and boost the liquidity of its shares. In addition to
strong support from its cornerstone investors in Asia, such as Sinopec, CIC,
Bank of China Group Investment, China Life and Orient Group, the Company has a
strong financial position which is sufficient to meet its future development
needs," said Mr. Shen.
About Sunshine Oilsands Ltd.
Sunshine Oilsands Ltd. is one of the largest non-partnered holders of oil
sands leases by area in the Athabasca oil sands region, which is located in
the province of Alberta, Canada. Since the Company's incorporation on 22
February 2007, Sunshine has secured over 464,897 hectares (1,148,785 acres) of
oil sands leases (equal to approximately 7% of all granted leases in this
The Company's principal operations are the exploration, development and
production of its diverse portfolio of oil sands leases. Its principal
operating regions in the Athabasca area are at West Ells, Thickwood, Legend
Lake, Harper, Muskwa, Goffer, Pelican and Portage. Sunshine's oil sands leases
are grouped into three main asset categories: clastics, carbonates and
conventional heavy oil.
For further enquiries, please contact:
Sunshine Oilsands Ltd. Mr. John Zahary President & CEO or Mr. David Sealock
Executive VP, Corporate Operations Tel: +1-403-984-1446 Email:
email@example.com Website: www.sunshineoilsands.com
SOURCE: Sunshine Oilsands Ltd.
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CO: Sunshine Oilsands Ltd.
NI: UTI OIL FIN MNG
-0- Nov/08/2012 13:39 GMT
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