Base Metals

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its third quarter 2022 financial results after market close on November 2, 2022. Senior management will host a conference call and webcast on November 3, 2022 at 10:00 am ET to review Sherritt's third quarter 2022 financial and operational performance.

Dial-in and Webcast Details:

North America dial-in number:

1 (888) 886-7786 Passcode: 84034622

International dial-in number:

1 (416) 764-8658 Passcode: 84034622

Webcast and slide presentation:

www.sherritt.com

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
Headquartered in Toronto, Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals essential for an electric future. Its Technologies Group creates innovative, proprietary solutions for natural resource-based industries around the world to improve environmental performance and increase economic value. Sherritt has embarked on a multi-pronged growth strategy focused on expanding nickel and cobalt production by up to 20% from 2021 and extending the life of mine at Moa beyond 2040. The Corporation is also the largest independent energy producer in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".

For further information, please contact:
Lucy Chitilian, Director, Investor Relations
Email: Lucy.Chitilian@sherritt.com
Telephone: (416) 935-2457

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S:CA,SHERF
cobalt symbol

Top 3 Canadian Cobalt Stocks of 2022

Click here to read the previous top cobalt stocks article.

Cobalt prices performed strongly in 2021, and in March through May of this year experienced highs not seen since 2018, reaching US$82,000 per metric ton (MT). However, prices plunged in late June and early July.

Sitting at US$51,995 per MT on November 21, cobalt is down year-to-date, and that price has remained stable since late August. Although it's back down at the moment, it's worth keeping in mind that cobalt prices are still up by nearly US$20,000 over the beginning of 2021. The battery metal is an essential part of the lithium-ion batteries used in electric vehicles (EVs) and the clean energy movement. Experts expect rising EV purchases to continue driving demand for cobalt.

“A lot of discussions looking at lithium-iron-phosphate cathodes are a headwind for cobalt, but there are still a lot of offtake agreements in place now, there are still automakers which are looking at including cobalt in their chemistries going forward, with nickel-cobalt-manganese being one of the favored chemistries in the western world,” Fastmarkets Battery Raw Materials Analyst Robert Searle said.

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Sherritt Amends and Extends Its Previously Announced Offers on Receipt of Support From Significant Noteholders to Tender $30 Million of Secured Notes

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation (" Sherritt " or the " Corporation ") (TSX:S) announced today that it has entered into support agreements with two significant noteholders, who have agreed to tender $30 million of secured notes, and amended certain terms of its previously announced offers to purchase (i) its outstanding 8.50% senior second lien secured notes due in 2026 (the " Secured Notes ") pursuant to a modified Dutch auction process (the " Secured Notes Dutch Auction ") and (ii) its outstanding 10.75% unsecured PIK option notes due in 2029 (the " Junior Notes ", and collectively with the Secured Notes, the " Notes ") pursuant to a fixed price tender offer process (the " Junior Notes Fixed Price Tender Offer " and, together with the Secured Notes Dutch Auction, the " Offers " or the " Transaction "). The Transaction was announced by Sherritt in its press release issued on November 2, 2022 (the " November 2 Press Release "). The detailed terms of the Offers are set forth in Sherritt's Offer to Purchase dated November 2, 2022 (the " Purchase Offer ") and the November 2 Press Release.

News Provided by Business Wire via QuoteMedia

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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), a world leader in the mining and hydrometallurgical refining of nickel and cobalt from lateritic ores, announced today the commencement of offers to purchase (i) its outstanding 8.50% senior second lien secured notes due 2026 (the " Secured Notes ") pursuant to a modified Dutch auction process (the " Secured Notes Dutch Auction ") and (ii) its outstanding 10.75% unsecured PIK option notes due 2029 (the " Junior Notes ", and collectively with the Secured Notes, the " Notes ") pursuant to a fixed price tender offer process (the " Junior Notes Fixed Price Tender Offer " and, together with the Secured Notes Dutch Auction, the " Offers " or the " Transaction ") for aggregate cash consideration of up to $50 million (the " Maximum Consideration Amount "), exclusive of accrued and unpaid interest on the purchased Secured Notes. The Transaction is on the same terms and conditions as the Notes purchase transaction completed by Sherritt in June 2022.

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Sherritt International Corporation ("Sherritt", the "Corporation", the "Company") (TSX: S), a world leader in the mining and hydrometallurgical refining of nickel and cobalt from lateritic ores, today reported its financial results for the three and nine months ended September 30, 2022. All amounts are in Canadian currency unless otherwise noted.

News Provided by Business Wire via QuoteMedia

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