Sunshine Oilsands Issues Shares to Settle Debts

The latest announcement is out from Sunshine Oilsands ( (HK:2012) ).

Sunshine Oilsands Ltd. announced the issuance of shares under a general mandate to settle debts with creditors. The shares will be issued at a price of HK$0.35, representing a premium over the recent closing price. This issuance will account for approximately 16.67% of the company’s existing share capital and 14.29% of the total enlarged share capital post-issuance. The move aims to strengthen the company’s financial position by settling outstanding debts, although the issuance is subject to certain conditions being met.

More about Sunshine Oilsands

Sunshine Oilsands Ltd. is a company incorporated under the Business Corporation Act of the Province of Alberta, Canada, and is listed on the Hong Kong Stock Exchange. The company operates in the oil sands industry, focusing on the development and production of oil resources.

YTD Price Performance: -26.67%

Average Trading Volume: 245

Technical Sentiment Signal: Strong Buy

Current Market Cap: $10.99M

See more insights into 2012 stock on TipRanks’ Stock Analysis page.