BRIEF-Sunshine Oilsands updates on placing agreement

March 16 (Reuters) - Sunshine Oilsands Ltd

* Corporation entered into a placing agreement with China

Industrial Securities International Capital Limited

* Maximum gross proceeds to be raised from placing will be

HK$ 70 million

* Corporation to place, through CISC, on a best efforts

basis, up to 247.4 million common shares of company at a price

of HK$0.283 per share

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