Sherritt Announces Extension of the Early Consent Date and Update on Debtholder Votes in Connection with its Transaction

Jul 14, 2020

Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S, Financial) announced today that, in order to provide holders (the “Noteholders”) of the Corporation’s outstanding (i) 8.00% senior unsecured debentures due 2021, (ii) 7.50% senior unsecured debentures due 2023, and (iii) 7.875% senior unsecured notes due 2025 (collectively, the “Existing Notes”) with additional time to become entitled to receive early consent cash consideration (the “Noteholder Early Consent Cash Consideration”) as additional consideration for the exchange of their Existing Notes pursuant to Sherritt’s previously announced transaction to improve its capital structure (the “Transaction”) to be implemented pursuant to a corporate plan of arrangement (“Plan of Arrangement”) under the Canada Business Corporations Act (the “CBCA”), the Corporation is extending the early consent date (the “Early Consent Date”) to July 17, 2020.

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