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January 19, 2024 TheNewswire - Coquitlam, BC, Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that further to its news release dated January 4, 2024, the TSX Venture Exchange has accepted the name change to " Nord Precious Metals Mining Inc. ".
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Coquitlam, BCCanada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt is pleased to announce that shareholders at the Annual and General Meeting held on October 31, 2023 voted in favour to change the Company's name to "Nord Precious Metals Mining Inc". The new name will better reflect the direction of the Company. The name change is subject to TSX Venture Exchange ("Exchange") approval.
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New discoveries of precious and battery metals and progress towards surfacing value for shareholders through a spinout of a potentially large nickel-copper-cobalt property in Quebec
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The property has many yet-to-be-drilled targets and prospective electromagnetic anomalies identified by an airborne geophysical survey.
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the " Company " or " Canada Silver Cobalt ") is pleased to announce that it has commenced drilling at its Lowney-Lac Edouard property as part of the first phase of an exploration program targeting prospective areas identified previously in an airborne geophysical survey
The drilling is being conducted in the center and southern part of the 7,237-hectare property in areas where five electromagnetic anomalies were identified by a Geotech VTEM airborne geophysical survey conducted for Canada Silver Cobalt (see news releases May 24, 2022 and August 29, 2022).
The Lowney-Lac Edouard property is south of the past-producing nickel-copper Lac Edouard Mine and right next to a property where Rio Tinto, in a 2023 drilling program in the Savane area of a Midland Exploration Inc. property, discovered high-grade nickel with copper. Midland reported in an April 27, 2023 news release that Hole MDLD0001, drilled by Rio Tinto, intersected an interval grading 1.07% Ni and 0.13% Cu over 0.78 metres, from 101.87 to 102.65 metres. Midland also reported that grab samples taken by prospectors in the Savane area in 1995 yielded historical values of 1.80% Ni and 0.20% Cu. Another grab sample from a sub-cropping boulder also yielded grades of 1.98% Ni and 0.46% Cu about 250 metres north of the Savane showing (Source: SIGEOM NTS sheet 31P07; GM55352). This may not be representative of the mineralisation of Lowney-Lac Edouard.
The area, which has good road access and infrastructure, is near La Tuque in Central Quebec and is located north of the port of Trois Rivieres and approximately 100 km northwest of Quebec City. (See maps below.)
"We are excited to be following up on what we found in the VTEM geophysical survey. We had to limit our exploration activity this past summer due to forest fires in Quebec but now is the time to catch up and we are looking forward to seeing this property develop further," said Frank J. Basa, Chief Executive Officer.
The first phase is expected to involve 1,500 metres of drilling and the second phase, planned for 2024, dependent on drill results from the first phase, could include the testing of additional targets. The Company has engaged Laurentia Exploration, Multi Drilling Services and GoldMinds Geoservices for this campaign. Drilling in this first phase is limited to targets near existing logging roads where permits allow and the Company is awaiting permits needed for drilling in other areas of the property.
The Lowney-Lac Edouard property is one of 14 critical metals properties in Quebec acquired in late 2020 by Canada Silver Cobalt targeting nickel, copper, and cobalt mineralization in preparation for the significantly increased demand for the metals expected for the ongoing electrification programs planned by governments. (See news releases February 16 and April 20, 2021 and August 29, 2022 for descriptions of the Lowney-Lac Edouard property).
One of the 14 Quebec properties – the Graal property, where the Company drilled extensively and successfully in 2021 and 2022 – has been shown to have potentially a large area of near-surface, high-grade nickel-copper mineralization with cobalt byproduct and showings of platinum and palladium in a 6 km strike length as well as in other areas of the property. The Graal property is characterized by a large Bouguer gravity anomaly as is the case with Lowney-Lac Edouard. The Company plans to spin out the Graal Property into a new Company called Coniagas Battery Metals Inc. (See news release September 26, 2023.)
Note that the Figure 2 map below is updated to November 20, 2023 and the Figure 3 map is from March 2022.
Figure 1: Location of the Lowney-Lac Edouard and recently acquired Lac Guay properties
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Figure 2: Lowney-Lac Edouard property mineral claims
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Figure 3: Location of the Lowney-Lac Edouard property with adjacent properties
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Figure 4: Planned drill locations at Lowney-Lac Edouard South
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Qualified person
The technical information in this news release has been provided by Laurentia technical team and the content was reviewed and approved by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a m ember of Québec Order of Engineers and an independent qualified person in accordance with National Instrument 43- 101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 16,000-metre drill program on the Graal property; (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario; and (3) the St. Denis-Sangster lithium project – 260 square kilometers of greenfield exploration ground with numerous pegmatites focussed along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous to Power Metals' Case Lake Lithium properties.
Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com .
"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Caution Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. Canada Silver Cobalt Works Inc. does not undertake, and assumes no obligation, to update or revise, any such forward-looking statements or forward-looking information contained herein or in other communications to reflect new events or circumstances, except as may be required by law.
Copyright (c) 2023 TheNewswire - All rights reserved.
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Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the " Company " or " Canada Silver Cobalt ") announces that it is proposing to amend the terms of an aggregate 23,380,092 outstanding common share purchase warrants ("Warrants") by amending the exercise price to $0.06 per share
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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 issued the following statement in response to misleading information announced by SC2 Inc. ("SC2") on April 22, 2024 in connection with its mini-tender offer to purchase up to 21,621,621 common shares or approximately 5% of the issued and outstanding shares of Sherritt at a price of $0.37 per common share (the "Offer"), announced on April 8, 2024 and amended on April 11, 2024.
SC2 was incorporated on April 8, 2024 and is affiliated with Seablinc Canada Inc. ("Seablinc"), a significant supplier to Sherritt's Moa Joint Venture in Cuba.
Sherritt cautions shareholders on information contained in announcements made by SC2, a company which has not transparently disclosed adequate information about its relationship with Seablinc or about Seablinc's commercial relationship with Sherritt, a relationship which presents a significant conflict of interest for Seablinc.
SC2's Interests are to Entrench its Affiliate Seablinc as a Key Supplier to Sherritt's Moa Joint Venture at a Significant Cost to Sherritt's Shareholders
Seablinc is a specialist in commodity procurement solutions based in Alberta, employing a small team that includes former Sherritt employees. Its interests include entrenching the significant commercial supplier agreements it has with Sherritt's Moa Joint Venture on terms that are as favourable to Seablinc as possible. These interests are not aligned with the interests of Sherritt's other shareholders, who benefit from lower costs realized in part through competitive bidding processes in supplier negotiations. Sherritt advises shareholders to exercise caution in considering communications from SC2, given the potential additional ulterior motives of SC2 which it has not disclosed.
A Director Nominee Proposed by a Large Supplier Presents a Significant Conflict of Interest
Sherritt does not support Seablinc's proposed nominee joining Sherritt's Board of Directors. Similar to Seablinc's employees, the proposed director nominee, Mark Plamondon, is a former Sherritt employee based in Alberta. Sherritt has concerns with a significant supplier, that seeks to maximize its revenue from Sherritt at the expense of Sherritt's other shareholders, nominating a director who, if elected, may advance Seablinc's interests which are in conflict with those of Sherritt's other shareholders.
Sherritt Corrects Misinformation Regarding SC2's Advance Notice Claims
On April 4, 2024 a law firm acting on behalf of Seablinc emailed a letter to Sherritt, which stated that, at Sherritt's May 9, 2024 annual meeting of shareholders, Seablinc "intended" to nominate Mark Plamondon for election as a director of Sherritt. Sherritt is not obligated to include in its management information circular disclosure regarding an "intended" nominee, who may be proposed by a single shareholder which, at the time of the April 4 th letter, owned approximately 2% of Sherritt's shares. Such disclosure would have been confusing to shareholders and premature. Seablinc, if it had wished for Sherritt shareholders to have details of its "intended" nominee was free to provide this. Sherritt has properly observed and complied with all requirements of applicable securities and corporate law.
Sherritt has a Successful Board Renewal Process
Sherritt has engaged in deliberate, careful, informed and successful Board renewal in recent years with the addition of excellent independent directors and candidates. As announced on March 21, 2024 in its press release titled "Sherritt Announces Changes to its Board of Directors," Sherritt has appointed two new independent directors this year, following the addition of a new independent director in each of the three years prior. This does not reflect an entrenched board but demonstrates a commitment to succession with a proper and staged process to bring in new talent and ideas.
Sherritt Recommends Shareholders Vote for Management's Nominees at the Annual Meeting of Shareholders
Sherritt recommends that shareholders vote for management's nominees for director at the upcoming annual meeting of shareholders. Sherritt further recommends that shareholders take no action in response to SC2's Offer and do not tender their shares and give away their voting rights for the Corporation's annual meeting of shareholders. According to SC2's Offer, shareholders who have already tendered their shares can withdraw those shares at any time prior to being paid for them, by providing a written notice and following the procedure described in section 5 under the heading " Withdrawal Rights " of SC2's amended Letter to Shareholders document filed on www.sedarplus.ca .
Sherritt's management and board of directors will continue to advise shareholders against opportunistic or coercive actions that harm shareholder interests.
About Sherritt International
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Sherritt's Moa Joint Venture has a current estimated mine life of 25 years and has embarked on an expansion program focused on increasing annual mixed sulphide precipitate production by 20% of contained nickel and cobalt (100% basis). The Corporation's Power division, through its ownership in Energas S.A., is the largest independent energy producer in Cuba with installed electrical generating capacity of 506 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of two combined cycle plants that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".
View source version on businesswire.com: https://www.businesswire.com/news/home/20240423913759/en/
Tom Halton
Director, Investor Relations and Corporate Affairs
Email: investor@sherritt.com
Telephone: (416) 935-2451
www.sherritt.com
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/NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
SC2 Inc. (" SC2 ") is pleased to announce that 16,899,224 common shares of Sherritt International Corporation (TSX: S) (" Sherritt "), representing 4.25% of the Sherritt public float, have already been tendered to the previously announced offer by SC2 to purchase up to 21,621,621 common shares of Sherritt, at a price of $0.37 per common share (the " Offer ").
Only 4,722,397 common shares remain available for purchase under the Offer, which expires on May 3, 2024 . SC2 expects to take up and pay for all the common shares tendered to the Offer no later than May 7, 2024 .
If more than the maximum number of common shares for which the Offer is made are delivered in accordance with the Offer and not withdrawn at the time of take up of the common shares, the common shares to be purchased from each depositing shareholder will be determined in priority based on the order in which those deposits were received by the Olympia Trust Company, the Depositary and Information Agent, rather than on a pro rata basis according to the number of common shares delivered by each shareholder.
For more information on the Offer please refer to SC2's news releases dated April 8, 2024 , and April 10, 2024 , and the letter to shareholders and letter of transmittal to be used to accept the Offer, which are posted at www.sedarplus.ca , under Sherritt's SEDAR+ profile.
If you have any questions with respect to the Offer, or need assistance in depositing your common shares, please contact the Depositary and Information Agent for the Offer: North America Toll Free Number: 1-833-684-1546; Outside North America Call Collect: 1-587-774-2340; Email: cssinquiries@olympiatrust.com .
This news release contains forward-looking information within the meaning of securities laws. In general, forward-looking information refers to disclosure about possible conditions, events, or financial performance that is based on future economic conditions and courses of action, and includes disclosure that is presented as a forecast, plan, or projection. More particularly and without limitation, this news release contains forward looking information concerning SC2's plans to take up and pay for the common shares of Sherritt that are tendered to the Offer. The forward-looking information is based on certain key expectations and assumptions made by SC2. Although SC2 believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because SC2 can give no assurance that they will prove to be accurate. By its nature, forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed in this news release. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date of this news release, and to not use such forward-looking information for anything other than its intended purpose. SC2 undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by securities laws.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER OR SOLICITATION TO PURCHASE SECURITIES IN ANY JURISDICTION IN WHICH, OR TO OR FROM ANY PERSON TO OR FROM WHOM, IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION UNDER APPLICABLE SECURITIES OR OTHER LAWS. THE OFFER IS BEING MADE SOLELY PURSUANT TO THE LETTERS, WHICH SET FORTH THE COMPLETE TERMS OF THE OFFER THAT SHAREHOLDERS SHOULD CAREFULLY READ PRIOR TO MAKING ANY DECISION.
SOURCE SC2 Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2024/22/c4693.html
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/NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
SC2 Inc. (" SC2 ") is pleased to announce an offer (the " Offer ") to purchase up to 21,621,621 common shares of Sherritt International Corporation (TSX: S) (" Sherritt ") at a price of $0.37 per common share (the " Purchase Price "), payable in cash.
The Purchase Price is equal to an approximate 19.4% premium to the closing price of the common shares on the Toronto Stock Exchange (the " TSX ") on April 8, 2024 (being the previous trading day to the date of announcement of the Offer) and an approximate 27.6% premium to the volume-weighted average trading price of the common shares on the TSX for the 30 trading days prior to the announcement of the Offer.
The Offer is for up to 21,621,621 of the outstanding common shares of Sherritt. The Offer is open for acceptance until 5:00 p.m. ( Calgary time) on Friday, May 10, 2024 (the " Expiry Time "), unless the Offer is extended, varied or withdrawn.
SC2 has posted at www.sedarplus.ca , under Sherritt's profile, a letter to shareholders setting out more information pertaining to the Offer as well as a letter of transmittal (the " Letter of Transmittal ") to be used to accept the Offer (collectively, the " Letters "). Please also see "Details of the Offer" below.
The Offer is being made to registered and beneficial shareholders of Sherritt in each of the provinces and territories of Canada , except Québec. We may announce that we are expanding the Offer to other jurisdictions, such as Québec, in a subsequent news release.
REASONS FOR THE OFFER
SC2 is making the Offer following recent engagements with management and the board of Sherritt. SC2 encourages shareholders to consider the following factors, among others, when making the decision to accept the Offer:
DETAILS OF THE OFFER
The Offer is open for acceptance until 5:00 p.m. ( Calgary time) on Friday, May 10, 2024 , provided however that SC2 reserves the right, in its sole and absolute discretion at any time, to: (i) extend or vary the Offer at any time; or (ii) withdraw the Offer if the conditions thereto are not met, and if withdrawn, it will not be required to take up or pay for common shares delivered pursuant to the Offer.
If the Offer is withdrawn by SC2, SC2 shall cause all common shares delivered pursuant to the Offer to be returned to the shareholders. Full details of the Offer are included in the Letters, including complete instructions for the tendering and delivery of common shares to SC2. In order to deposit their common shares to the Offer, registered shareholders must complete the documentation as set out in the Letter of Transmittal and beneficial shareholders must follow the instructions provided by their investment dealer, broker or other nominee. Investment dealers, brokers and other nominees may set a deadline for the delivery of deposit instructions that is earlier than the Expiry Time, and as such shareholders should contact their investment dealer, broker or other nominee for assistance at their earliest convenience. Deposited common shares may be withdrawn at any time prior to the time they are taken up by SC2.
The Offer will be subject to certain conditions set out in the Letters which, unless waived, must be satisfied. The Letters will require that each depositing shareholder whose common shares are taken up and paid for appoint representatives of SC2 as its nominees and proxy for any upcoming shareholders' meeting.
If more than the maximum number of common shares for which the Offer is made are delivered in accordance with the Offer and not withdrawn at the time of take up of the common shares, the common shares to be purchased from each depositing shareholder will be determined on a pro rata basis according to the number of common shares delivered by each shareholder, disregarding fractions, by rounding down to the nearest whole number of common shares.
If you have any questions with respect to the Offer, or need assistance in depositing your common shares, please contact the Depositary and Information Agent for the Offer: North America Toll Free Number: 1-833-684-1546; Outside North America Call Collect: 1-587-774-2340; Email: cssinquiries@olympiatrust.com .
ADDITIONAL INFORMATION
SC2 is relying on the exemption under section 9.2(4) of National Instrument 51‐102 ‐ Continuous Disclosure Obligations to make this public broadcast solicitation. The following information is provided in accordance with corporate and securities laws applicable to public broadcast solicitations.
This solicitation is being made by SC2, and not by or on behalf of the management of Sherritt. Olympia Trust Company will receive a fee of $5 ,000 for its services as Depositary and Information Agent under the Offer plus ancillary payments and disbursements. Based upon publicly available information, Sherritt's registered office and head office is at Bay Adelaide Centre, East Tower 22 Adelaide Street West, Suite 4220 Toronto, ON M5H 4E3. SC2 is soliciting proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian corporate and securities laws, conveyed by way of public broadcast, including press release, speech or publication, and by any other manner permitted under applicable Canadian laws. In addition, this solicitation may be made by mail, telephone, facsimile, email or other electronic means as well as by newspaper or other media advertising and in person by employees of SC2. All costs incurred for the solicitation will be borne by SC2.
A registered shareholder who has given a proxy under the terms of the Letter of Transmittal may, prior to its common shares being taken up and paid for under the Offer, in accordance with Section 148(4) of the Canada Business Corporations Act , revoke the proxy (i) by depositing an instrument or act in writing executed either: * at the registered office of Sherritt at any time up to and including the last business day preceding the day of the meeting, or an adjournment thereof, at which the proxy is to be used, or (y) with the chairman of the meeting on the day of the meeting or an adjournment thereof; or (ii) in any other manner permitted by law. A non‐registered shareholder may revoke a form of proxy or voting instruction form given to an intermediary at any time by written notice to the intermediary in accordance with the instructions given to the non-registered shareholder by its intermediary. Non-registered shareholders should contact their broker for assistance in ensuring that forms of proxies or voting instructions previously given to an intermediary are properly revoked. None of SC2 and its directors and officers, or, to the knowledge of SC2, any associates or affiliates of the foregoing, has any material interest, direct or indirect, in any transaction since the commencement of Sherritt's most recently completed financial year, or in any proposed transaction which has materially affected or will materially affect Sherritt or any of its subsidiaries. None of SC2 or, to its knowledge, any of its associates or affiliates, has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at any upcoming shareholders' meeting, other than as set out herein and in the Letters. In accordance with the bylaws of Sherritt, Seablinc Canada Inc. (an affiliate of SC2) has nominated Mark Plamondon for election as a director of Sherritt at the annual meeting of shareholders of Sherritt to be held on May 9, 2024 .
The Offer is not a formal or exempt takeover bid under applicable Canadian securities laws and regulations.
SC2 ADVISORS
SC2 has engaged Olympia Trust Company as Depositary and Information Agent and MLT Aikins LLP as legal advisor.
ABOUT SC2
SC2 is a limited company that was incorporated under the laws of the Province of Alberta by a concerned shareholder of Sherritt, for the specific purpose of making the Offer.
SHAREHOLDER QUESTIONS
Shareholder with questions or who need assistance tendering their common shares can contact the Depositary and Information Agent:
Olympia Trust Company
North America Toll Free : 1-833-684-1546
Collect Calls outside North America : 1-587-774-2340
Email: cssinquiries@olympiatrust.com
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release, including statements regarding taking up and paying for common shares deposited under the Offer contain "forward-looking statements" and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of forward-looking words such as "plans", "expects", "intends", "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Although SC2 believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting Sherritt's operations will continue substantially in the current state, including, without limitation, with respect to industry conditions, general levels of economic activity, continuity and availability of personnel and third party service providers, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, and taxes, and that there will be no unplanned material changes to Sherritt's facilities, operations and customer and employee relations. SC2 cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of SC2 and there is no assurance that they will prove correct. Important factors that could cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements include, among other things, actions taken by Sherritt in respect of the Offer, the failure to satisfy the conditions of the Offer, industry risk and other risks inherent in the running of the business of Sherritt, foreign currency exchange rates and interest rates, general economic conditions, legislative or regulatory changes, changes in income tax laws, and changes in capital or securities markets. These are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of SC2's forward-looking statements. Other unknown and unpredictable factors could also impact its results. Many of these risks and uncertainties relate to factors beyond SC2's ability to control or estimate precisely. Consequently, there can be no assurance that the actual results or developments anticipated by SC2 will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, SC2 or Sherritt and their respective future results and performance. Forward-looking statements in this press release are based on SC2's beliefs and opinions at the time the statements are made, and there should be no expectation that these forward- looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and SC2 disavows and disclaims any obligation to do so, except as required by applicable law.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER OR SOLICITATION TO PURCHASE SECURITIES IN ANY JURISDICTION IN WHICH, OR TO OR FROM ANY PERSON TO OR FROM WHOM, IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION UNDER APPLICABLE SECURITIES OR OTHER LAWS. THE OFFER IS BEING MADE SOLELY PURSUANT TO THE LETTERS, WHICH SET FORTH THE COMPLETE TERMS OF THE OFFER THAT SHAREHOLDERS SHOULD CAREFULLY READ PRIOR TO MAKING ANY DECISION.
SOURCE SC2 Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2024/08/c0509.html
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Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its first quarter 2024 results after market close on May 8, 2024. Senior management will host a conference call and webcast on May 9, 2024 at 10:00 am ET to review Sherritt's first quarter 2024 financial and operational performance.
Dial-in and Webcast Details: | |||
North America dial-in number: | 1 (800) 717-1738 Passcode: 00402 | ||
International dial-in number: | 1 (289) 514-5100 Passcode: 00402 | ||
Webcast and slide presentation: |
Please dial in 15 minutes before the start of the conference to secure a line and avoid delays. Alternatively, listeners will be able to access the conference call via the webcast available on Sherritt's website.
A copy of the webcast and replay of the conference call will be available on the website following the presentation.
About Sherritt International
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Sherritt's Moa Joint Venture has a current estimated mine life of 25 years and has embarked on an expansion program focused on increasing annual mixed sulphide precipitate production by approximately 20% of contained nickel and cobalt (100% basis). The Corporation's Power division, through its ownership in Energas S.A., is the largest independent energy producer in Cuba with installed electrical generating capacity of 506 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of two combined cycle plants that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".
View source version on businesswire.com: https://www.businesswire.com/news/home/20240408926222/en/
For further information:
Tom Halton
Director, Investor Relations and Corporate Affairs
Email: investor@sherritt.com
Telephone: (416) 935-2451
www.sherritt.com
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Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) is pleased to announce the appointments of Louise Blais and Steven H. Goldman to its Board of Directors effective immediately. The appointments of Ms. Blais and Mr. Goldman are in accordance with Sherritt's Board succession planning with the retirements of Maryse Belanger and John Warwick, both of whom are not seeking re-election at the Corporation's 2024 Annual General Meeting ("AGM"). Ms. Belanger will be retiring from the Board as of today and Mr. Warwick will be retiring from the Board at the AGM on May 9, 2024.
Sir Richard Lapthorne, Chair of Sherritt's Board of Directors commented, "We are delighted to welcome Louise and Steven to our Board of Directors. Louise's 25 years of experience as a senior diplomat have cultivated strong government relationships in Canada and internationally which will be invaluable to Sherritt. Her government experience working in North America and in other markets of interest to Sherritt align well with our strategic objectives. Steven brings a differentiated blend of business and legal acumen to the Board as well as extensive experience fostering new avenues for companies to achieve success. His insights will be instrumental to Sherritt as our planned future growth ultimately enables us to consider new markets and strategies."
Sir Richard Lapthorne continued, "Additionally, I would like to extend my gratitude to both Maryse and John for their extensive contributions and tireless commitment."
Louise Blais was Canada's Ambassador and Deputy Permanent Representative to the United Nations in New York from 2017 to 2021. During this time, she also served as Vice President to UNICEF's Executive Board. As a senior diplomat, she served abroad in Washington and Tokyo and as Minister-Counsellor for Political Affairs at the Embassy in Paris. In 2014 she was appointed Consul General of Canada in Atlanta, covering North Carolina, South Carolina, Tennessee, Georgia, Alabama and Mississippi. Ms. Blais is currently an Associate at the Pendleton Group and Special Senior Advisor, International Affairs, to the Business Council of Canada and the QG100 in Quebec. Ms. Blais holds a B.A. from McGill University.
Steven H. Goldman is a founding member of the Toronto law firm of Goldman Hine LLP which he retired from in January 2021. He is currently President, CEO and director of Comstock Metals Inc. and a director and audit committee member of Select Sands Corp. Mr. Goldman was formerly a director and audit committee member of Tribute Pharmaceuticals Inc. and a director of Allegro Health Corp. Mr. Goldman received his B.A. (President's Medal) from Carleton University and his JD from Queen's University.
About Sherritt International
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Sherritt's Moa Joint Venture has a current estimated mine life of 25 years and has embarked on an expansion program focused on increasing annual mixed sulphide precipitate production by approximately 20% of contained nickel and cobalt (100% basis). The Corporation's Power division, through its ownership in Energas S.A., is the largest independent energy producer in Cuba with installed electrical generating capacity of 506 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of two combined cycle plants that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".
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Tom Halton
Director, Investor Relations and Corporate Affairs
Email: investor@sherritt.com
Telephone: (416) 935-2451
www.sherritt.com
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