Reference Date<\/b><\/p>\n<\/td>\n
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Applicable Reference Cobalt Price<\/b><\/p>\n<\/td>\n
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Applicable Common Shares per Warrant Ratio<\/b><\/p>\n<\/td>\n<\/tr>\n \nNovember 30, 2020\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nUS$15.67\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.00\n<\/p>\n<\/td>\n<\/tr>\n \nConsistent with the terms of the Warrant Indenture dated as of January 25, 2018 and available on SEDAR, Sherritt will calculate and publish the Applicable Reference Cobalt Price based on the simple average of the midpoint of the Fastmarkets MB (formerly known as Metal Bulletin) High Price and the Fastmarkets MB Low Price1<\/sup>, expressed in US dollars per pound, for the three consecutive full calendar months immediately preceding each monthly Conversion Ratio Reset Date. The Applicable Common Shares per Warrant Ratio disclosed here will apply on any warrant Exercise Date from, and including, December 8, 2020 through January 8, 2021.\n<\/p>\n \nThe next Applicable Reference Cobalt Price and Applicable Common Shares per Warrant Ratio for the three-month period ended December 31, 2020 will be announced on January 8, 2021.\n<\/p>\n About Sherritt<\/span><\/p>\n \nSherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with projects and operations in Canada and Cuba. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation\u2019s common shares are listed on the Toronto Stock Exchange under the symbol \u201cS\u201d.\n<\/p>\n 1<\/sup> The \u201cFastmarkets MB High Price<\/b>\u201d means the Fastmarkets Cobalt standard grade MB free market US$\/lb in warehouse monthly average high; and the \u201cFastmarkets MB Low Price<\/b>\u201d means the Fastmarkets Cobalt standard grade MB free market US$\/lb in warehouse monthly average low. Metal Bulletin was rebranded as Fastmarkets MB on October 1, 2018 and changed the names of its benchmark in-warehouse Rotterdam cobalt price assessments on January 2, 2019. Underlying pricing data remains the same.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201207005534\/en\/<\/a><\/span><\/p>\n \nJoe Racanelli, Director of Investor Relations KEYWORDS:<\/b> North America Canada<\/p>\n INDUSTRY KEYWORDS:<\/b> Natural Resources Other Natural Resources Mining\/Minerals<\/p>\n MEDIA:<\/b><\/p>\n Sherritt Publishes Cobalt Reference Price and Warrant Conversion Ratio for December 2020 NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO–(BUSINESS WIRE)– Sherritt International Corporation (\u201cSherritt\u201d) (TSX:S), a world leader in the mining and refining of nickel and cobalt from lateritic ores, today published the Applicable Reference Cobalt Price and Applicable Common Shares per Warrant Ratio for the three-month period ended November 30, 2020. \u00a0 Reference Date \u00a0 Applicable Reference Cobalt Price \u00a0 Applicable Common Shares per Warrant Ratio November 30, 2020 \u00a0 US$15.67 \u00a0 1.00 \u00a0 Consistent with the terms of the Warrant Indenture dated as of January 25, 2018 and available on SEDAR, Sherritt will calculate and publish the Applicable Reference … <\/p>\n\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n
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Telephone: 416-935-2457
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Email: investor@sherritt.com
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www.sherritt.com<\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"