Sherritt Comments on Press Release Regarding Recapitalization Proposal
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today confirms receipt of an unsolicited, non-binding proposal from a consortium comprised of Kyma Capital, Glencore Ltd. and a United States anchor investor (collectively, the “Consortium”). The Corporation cautions stakeholders that the Consortium’s proposal is non-binding, conditional and is not currently executable.
Sherritt will address all proposals from current or potential stakeholders and its board will consider them in accordance with its fiduciary duties. Sherritt’s stakeholders should exercise caution when evaluating information from any source, particularly information disseminated by third parties who may not have knowledge of, or may not present, the constraints to which Sherritt is subject.
Sherritt will continue to engage with its stakeholders as it navigates the significant challenges that it faces. Sherritt will provide factual updates as developments warrant, in accordance with applicable securities laws. Sherritt does not intend to make further public announcements regarding rumours or speculation unless it determines that disclosure is in the best interest of its stakeholders and in accordance with the requirements of applicable law.
