Sherritt extends note obligations and early consent deadline

Sherritt International Corporation has announced changes to its previously planned transaction aimed at extending the maturity of its note obligations. This update comes after talks with some holders of the corporation's existing notes. The company has increased the exchange ratio for junior notes from 0.50 to 0.60. Sherritt is also extending the early consent deadline. Noteholders of two types of outstanding notes must vote in favor of the corporate plan to qualify for early consent benefits. The voting deadline is set for 5:00 p.m. on April 2, 2025. Meetings for both senior and junior noteholders will be held on April 4, 2025. The meetings will start at 10:00 a.m. for senior noteholders and 10:30 a.m. for junior noteholders, taking place in Toronto. Sherritt encourages all noteholders to participate and submit their votes. Junior noteholders can opt to exchange their notes outside the corporate plan if needed. Sherritt is well-known for its mining and refining of nickel and cobalt, which are important for the energy transition. More information on the transaction and voting procedures can be found on Sherritt’s website and through Kingsdale Advisors, the company’s representative for investor inquiries.