Sunshine Oilsands Ltd. Announces Poll Results of the Annual General Meeting of Shareholders Held on June 24, 2015 (Hong Kong Time) and June 23, 2015 (Calgary Time)

HONG KONG and CALGARY, Alberta, June 24, 2015 /CNW/ -- Reference is made to the notice of the annual general meeting of shareholders (the "Meeting") of Sunshine Oilsands Ltd. (the "Corporation" HKEX: 2012; TSX: SUO) dated May 19, 2015 (the "Notice") and the supplemental notice of annual general meeting of Shareholders of the Corporation dated June 7, 2015 (the "Supplemental Notice").

Unless the context requires otherwise, terms used herein shall have the same meanings as those defined in the Corporation's management information circular dated May 19, 2015 (the "Circular") and the supplemental letter to the Shareholders dated June 6, 2015 (the "Supplemental Letter").

The board of directors of the Corporation (the "Board") is pleased to announce that the resolutions, as set out in the Notice and the Supplemental Notice subject to the next following paragraph, were duly passed by the shareholders of the Corporation (the "Shareholders") by way of poll at the Meeting held on June 24, 2015 (Hong Kong time) and June 23, 2015 (Calgary time). Computershare Hong Kong Investor Services Limited, the Hong Kong branch share registrar of the Corporation, was appointed as the scrutineer for the vote-taking at the Meeting.

Due to his personal reasons and other professional commitments, Mr. Tingan Liu informed the Meeting that he would not stand for re-election as a director. As such, he retired as non-executive chairman and director of the Corporation at the conclusion of the Meeting in accordance with his term of office.  Mr. Tingan Liu has confirmed that he has no disagreement with the Board and there are no matters relating to his retirement as non-executive chairman and director that need to be brought to the attention of the shareholders of the Corporation.

Due to the retirement of Mr. Tingan Liu as a Director, resolution number 1 as stated in the Supplemental Letter was amended as follows: "to fix the number of directors to be elected at the 2015 AGM at eleven (11)" and the resolution to elect Mr. Tingan Liu for the ensuing year was removed.

The poll results in respect of all the resolutions proposed at the Meeting are set out below:

*  For identification purposes only

Ordinary Resolution	Number of Votes (%)		Total Voting Rights Present at the Meeting
	For	Against
1. To approve the fixing the number of directors to be elected at the Meeting at eleven (11)	288,383,186 (99.920747%)	228,735 (0.079253%)	288,611,921
The resolution was duly passed as an ordinary resolution.

Ordinary Resolution	Number of Votes (%)		Total Voting Rights Present at the Meeting
	For	Withheld
2. To elect the following directors for the ensuing year:
(a)  Michael John Hibberd	277,079,955 (98.466568%)	4,315,000 (1.533432%)	281,394,955
The resolution was duly passed as an ordinary resolution.
(b)  Hok Ming Tseung	276,177,874 (98.329150%)	4,692,931 (1.670850%)	280,870,805
The resolution was duly passed as an ordinary resolution.
(c)  Haotian Li	276,530,128 (98.271175%)	4,864,827 (1.728825%)	281,394,955
The resolution was duly passed as an ordinary resolution.
(d)  Raymond Shengti Fong	277,847,064 (98.543030%)	4,108,000 (1.456970%)	281,955,064
The resolution was duly passed as an ordinary resolution.
(e)  Robert John Herdman	277,891,935 (98.558944%)	4,063,129 (1.441056%)	281,955,064
The resolution was duly passed as an ordinary resolution.
(f)   Gerald Franklin Stevenson	287,761,435 (98.608357%)	4,061,129 (1.391643%)	291,822,564
The resolution was duly passed as an ordinary resolution.
(g)  Jin Hu (Jimmy Hu)	280,405,736 (99.834419%)	465,069 (0.165581%)	280,870,805
The resolution was duly passed as an ordinary resolution.
(h)  Zhefei Song (Bill Song)	281,744,995 (99.925496%)	210,069 (0.074504%)	281,955,064
The resolution was duly passed as an ordinary resolution.
(i)   Hong Luo	281,035,826 (99.872375%)	359,129 (0.127625%)	281,394,955
The resolution was duly passed as an ordinary resolution.
(j)   Qi Jiang	281,447,617 (99.889576%)	311,129 (0.110424%)	281,758,746
The resolution was duly passed as an ordinary resolution.
(k)  Kwok Ping Sun	277,219,360 (99.841244%)	440,802 (0.158756%)	277,660,162
The resolution was duly passed as an ordinary resolution.

Ordinary Resolution	Number of Votes (%)		Total Voting Rights Present at the Meeting
	For	Against
3. To appoint Deloitte LLP as the auditor of the Corporation for the ensuing year and authorizing the directors of the Corporation to fix their remuneration as such.	290,861,612 (99.670707%)	960,952 (0.329293%)	291,822,564
The resolution was duly passed as an ordinary resolution.

                                                                                                                

Ordinary Resolution	Number of Votes (%)		Total Voting Rights Present at the Meeting
	For	Against
4. To approve the refreshing of the ten percent (10%) mandate under the Corporation's Post IPO Share Option Scheme, as more particularly described in the Circular.	276,541,676 (94.763637%)	15,280,888 (5.236363%)	291,822,564
The resolution was duly passed as an ordinary resolution.

Ordinary Resolution	Number of Votes (%)		Total Voting Rights Present at the Meeting
	For	Against
5. To approve the refreshing of the one percent (1%) mandate under the Corporation's employee share savings plan, as more particularly described in the Circular	286,398,294 (98.141244%)	5,424,270 (1.858756%)	291,822,564
The resolution was duly passed as an ordinary resolution.

Ordinary Resolution	Number of Votes (%)		Total Voting Rights Present at the Meeting
	For	Against
6. To approve a proposal for the Corporation to grant to the Board a general mandate to allot, issue and otherwise deal with un-issued Shares not exceeding twenty percent (20%) of its issued share capital, as more particularly described in the Circular.	290,928,326 (99.693568%)	894,238 (0.306432%)	291,822,564
The resolution was duly passed as an ordinary resolution.

Ordinary Resolution	Number of Votes (%)		Total Voting Rights Present at the Meeting
	For	Against
7. To approve a proposal for the Corporation to grant to the Board a general mandate to repurchase Shares not exceeding ten percent (10%) of its issued share capital, as more particularly described in the Circular	287,528,728 (98.528614%)	4,293,836 (1.471386%)	291,822,564
The resolution was duly passed as an ordinary resolution.

Please refer to the Circular and the Supplemental Letter for the full text of the above resolutions. Voting by proxy for ordinary resolutions 1 and 2(k) was conducted under a supplemental form of proxy that accompanied the Supplemental Letter.  

As at June 24, 2015 (Hong Kong time), June 23, 2015 (Calgary time) the total number of shares of the Corporation was 3,900,973,071 Shares, which was the total number of shares entitling the holders to attend and vote for or against the resolutions proposed at the Meeting. There were no restrictions on the holders of the Shares to attend and vote for or against the resolutions proposed at the Meeting. There were no Shares entitling the Shareholders to attend and abstain from voting in favour of any of the proposed resolutions at the Meeting resolutions as set out in Rule 13.40 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). No Shareholder was required under the Listing Rules to abstain from voting for approving the resolutions proposed at the Meeting. No parties were indicated in the Circular that they intended to vote against or to abstain from voting on any resolutions at the Meeting.

By Order of the Board of Sunshine Oilsands Ltd.

Michael J. Hibberd
Executive Vice-Chairman

Calgary, June 24, 2015
Hong Kong, June 24, 2015

As at the date of this announcement, the Board consists of Mr. Michael John Hibberd, Dr. Qi Jiang and Mr. Jin Hu as executive directors; Mr. Hong Luo, Mr. Hok Ming Tseung, Mr. Haotian Li and Mr. Kwok Ping Sun as non-executive directors; and Mr. Raymond Shenti Fong, Mr. Robert John Herdman, Mr. Gerald Franklin Stevenson and Mr. Zhefei Song as independent non-executive directors.

SOURCE Sunshine Oilsands Ltd.

Tina Shi, Phone Number: 852 95750324, Email: [email protected]