CALGARY, Canada, Nov. 20, 2013 /PRNewswire/ -- Sunshine Oilsands Ltd. ("Sunshine" or the "Corporation") (HKEX: 2012, TSX: SUO) is pleased to announce the extension of the non-binding Memorandum of Understanding for Strategic Cooperation ("MOU") entered into between Sunshine and Sinopec International Petroleum Exploration and Production Corporation, a wholly owned subsidiary of China Petroleum and Chemical Corporation (Sinopec), one of the major state owned petroleum and petrochemical groups in China, on February 1, 2012, details of which were previously disclosed in the prospectus for our global offering dated February 20, 2012 (the "Prospectus") as well as in our annual information forms filed on http://www.sedar.com.
The extension of the MOU, signed on November 20, 2013, extends the expiry date of the MOU from December 31, 2013 to December 31, 2014 and maintains the general principles and main clauses of the MOU as disclosed in the Prospectus.
The strategic cooperation is subject to the entering into of binding agreements. The Board wishes to emphasize that such binding agreement may or may not proceed. Shareholders and potential investors are urged to exercise caution when dealing in the securities of the Corporation.
