Sunshine Oilsands says no holders convert HK$11 million of bonds

By Susanna Moon

Chicago, Oct. 3 – Sunshine Oilsands Ltd. said no holders had exercised the conversion option under its HK$11 million of convertible bonds ahead of maturity.

The notes were convertible up through the 14th day immediately preceding the maturity date at a conversion price of HK$0.207 per share, according to a notice.

The conversion period expired on Sept. 30.

The company’s stock (Hong Kong: 2012) closed at HK$0.21 on Oct. 2.

Sunshine Oilsands is a Calgary, Alta.-based developer of oil sands leases in the Athabasca oil sands region.

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