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Sunshine Oilsands Issues Equity
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Sunshine Oilsands Ltd. has announced that it has completed the first closing of its private placement of units of the Corporation at a price of HK $1.70 per Unit (approximately CDN $0.23 per Unit), which was announced by the Corporation on December 3, 2013.
Each Unit is comprised of one Class “A” Common Voting Share of the Corporation and one-third of one purchase warrant of the Corporation. Each whole Warrant entitles the holder to acquire one Common Share at an exercise price of HK $1.88 per Common Share (approximately CDN $0.26 per Common Share) for a period of 24 months following the closing date of the Placing. The Warrant Exercise Price is subject to normal adjustment provisions in the case share capital or corporate reorganizations.
In the first closing, the Corporation closed on…
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