Sherritt Announces Leadership Transition
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SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Sherritt Announces Leadership Transition
TORONTO, December 8, 2025 – Sherritt International Corporation (“ Sherritt” or the “ Corporation”)
(TSX:S) today announced that Leon Binedell has stepped down as Sherritt’s President and Chief Executive
Officer and as a director of the Corporation , and that Dr. Peter Hancock has been appointed interim Chief
Executive Officer, effective immediately.
Since his appointment in June 2021, Mr. Binedell has guided Sherritt through one of its most challenging
periods and overseen progress on several key strategic initiatives, including the expansion of the Moa Joint
Venture, implementation of the Cobalt Swap agreement, optimization of the Power division and completion
of the debt and equity transactions earlier this year.
“On behalf of the Board, I want to thank Leon for his dedicated service advancing important strategic
initiatives during his tenure , positioning Sherritt for its next phase . We wish him all the best in his future
endeavours,” said Brian Imrie, Chair of the Board. “I also want to thank Dr. Hancock for taking on the interim
position. His deep familiarity with Sherritt’s operations and decades of experience as a mining executive
will ensure a smooth transition as the Board conducts a thorough search for our next leader.”
Dr. Hancock is a seasoned mining industry executive with more than 35 years of experience with Glencore
plc, including overseeing nickel mining operations and developing and commercializing process
technologies. He has served as an independent director of Sherritt since November 2021.
The Board has formed a special committee, chaired by Mr. Imrie, to oversee a comprehensive search for
a permanent Chief Executive Officer, which will include consulting with shareholders and other
stakeholders, and working with an executive search firm to help identify qualified candidates.
About Sherritt
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals
deemed critical for the energy transition. Leveraging its technical expertise and decades of experience in
critical minerals processing, Sherritt is committed to expanding domestic refining capacity and reducing
reliance on foreign sources. The Corporation operates a strategically important refinery in Alberta, Canada,
recognized as the only significant cobalt refinery and one of just three nickel refineries in North America.
Sherritt’s Moa Joint Venture has an estimated mine life of approximately 25 years and has recently
completed an expansion that is set to increase its annual mixed sulphate precipitate production by 20% of
contained nickel and cobalt.
The Corporation’s Power division, through its ownership in Energas, 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”.
Contact Information
For further information, please contact:
Tom Halton
Director, Investor Relations and Corporate Affairs
(416) 935-2451
www.sherritt.com
Forward-Looking Statements
Certain statements and other information included in this press release may constitute “forward -looking
information” or “forward -looking statements” (collectively, “forward -looking statements”) under applicable
securities laws (such statements are often accompanied by words such as “anticipate”, “forecast”, “expect”,
“believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). All statements in this press
release, other than those relating to historical information, are forward -looking statements, including, but
not limited statements regarding strategies. The Corporation cautions readers of this press release not to
place undue reliance on any forward -looking statement as a number of factors could cause actual future
results, conditions , actions or events to differ materially from the targets, expectations, estimates or
intentions expressed in the forward -looking statements. The key risks and uncertainties should be
considered in conjunction with the risk factors described in the Corporation’s other documents filed with the
Canadian securities authorities, including without limitation the “Managing Risk” section of the
Management’s Discussion and Analysis for the three and nine months ended September 30, 2025 and the
Annual Information Form of the Corporation dated March 24, 2025 for the period ending December 31,
2024, which is available on SEDAR+ at www.sedarplus.ca.
The forward-looking information and statements contained in this press release are made as of the date
hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-
looking information or statements, whether as a result of new information, future events or otherwise, except
as required by applicable securities laws. The forward-looking information and statements contained herein
are expressly qualified in their entirety by this cautionary statement.