Sunshine Oilsands Ltd.



Sunshine Oilsands Ltd.

November 14, 2012 19:24 ET

Sunshine Oilsands Obtains Listing Approval from the Toronto Stock Exchange

CALGARY, ALBERTA--(Marketwire - Nov. 14, 2012) -

NOT FOR DISTRIBUTION OR DISSEMINATION IN OR INTO THE UNITED STATES

As at the date of this announcement, the Board consists of Mr. Michael John Hibberd and Mr. Songning Shen as executive directors, Mr. Hok Ming Tseung, Mr. Tingan Liu, Mr. Haotian Li and Mr. Gregory George Turnbull as non-executive directors and Mr. Raymond Shengti Fong, Mr. Wazir Chand Seth, Mr. Robert John Herdman and Mr. Gerald Franklin Stevenson as independent non-executive directors.

This announcement is made pursuant to the disclosure obligations under Rule 13.09(1) of the The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and applicable provisions of National Policy 51 - 201 - Disclosure Standards.

Further to Sunshine Oilsands Ltd's ("Sunshine" or "Company") previous announcements on November 8, 2012, Sunshine is pleased to announce that the Toronto Stock Exchange ("TSX") has confirmed Sunshine has satisfied the conditions contained in the TSX's previous conditional listing approval and that the TSX has now approved the listing of Sunshine's Class "A" Common Voting Shares (the "Common Shares") on the TSX. The Common Shares are expected to commence trading on the TSX on Friday, November 16, 2012 (Toronto time), at market open under the symbol "SUO".

Mr. John Zahary, President and Chief Executive Officer of Sunshine stated, "We are pleased that the TSX was able to approve Sunshine for listing in an efficient manner. We believe this listing will help demonstrate the value inherent in our company and its securities as well as provide a convenient market for North American investors to participate in the Sunshine story."

The TSX listing will be secondary listing and Sunshine will not raise additional funds nor issue any new shares in connection with the listing as it is a listing by introduction. Sunshine will maintain its primary listing on The Stock Exchange of Hong Kong under the stock code "2012".

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 (1,189,762 acres) of oil sands leases (equal to approximately 7% of all granted leases in this area).

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.

FORWARD-LOOKING INFORMATION AND DISCLAIMER

This announcement may contain forward-looking information that is subject to various risks, uncertainties and other factors. All statements other than statements and information of historical fact are forward-looking statements. The use of any words "estimate", "forecast", "expect", "project", "plan", "target", "vision", "goal", "outlook", "may", "will", "should", "believe", "intend", "anticipate", "potential", and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on Sunshine's experience, current beliefs, assumptions, information and perception of historical trends available to Sunshine, and are subject to a variety of risks and uncertainties including, but not limited to those associated with resource definition and expected reserves and contingent and prospective resources estimates, unanticipated costs and expenses, regulatory approval, fluctuating oil and gas prices, expected future production, the ability to access sufficient capital to finance future development and credit risks, changes in Alberta's regulatory framework, including changes to regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon and other laws or regulations and the impact thereof and the costs associated with compliance. Although Sunshine believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions and factors discussed in this information release are not exhaustive and readers are not to place undue reliance on forward-looking statements as our actual results may differ materially from those expressed or implied. Sunshine disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, subsequent to the date of this announcement, except as required under applicable securities legislation. The forward-looking statements speak only as of the date of this announcement and are expressly qualified by these cautionary statements. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. For a full discussion of our material risk factors, see "Risk Factors" in our most recent Annual Information Form dated April 30, 2012, "Risk Management" in our current MD&A and risk factors described in other documents we file from time to time with securities regulatory authorities, all of which are available on the Hong Kong Stock Exchange at www.hkexnews.hk, on the SEDAR website at www.sedar.com or our website at www.sunshineoilsands.com.

This document does not constitute and is not an offer to sell or a solicitation of an offer to buy common shares of the Company in the United States (including its territories and possessions, any State of the United States and the District of Columbia) or elsewhere.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

By Order of the Board of Sunshine Oilsands Ltd. Michael John Hibberd, Co-Chairman and Songning Shen, Co-Chairman

Contact Information