Sherritt Publishes Cobalt Reference Price and Warrant Conversion Ratio for September 2020
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Sherritt Publishes Cobalt Reference Price and Warrant Conversion
Ratio for September 2020
TORONTO, September 8, 2020 – Sherritt International Corporation (“Sherritt”) (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 August 31, 2020.
Reference Date Applicable Reference Cobalt
Price
Applicable Common Shares per
Warrant Ratio
August 31, 2020 US$14.60 1.00
Consistent with the terms of the Warrant Indenture dated as of January 25, 2018 and available
on SEDAR, Sherritt will calculate and publish t he Applicable Reference Cobalt Price based on
the simple average of the midpoint of the Fastmarkets MB (formerly known as Metal Bulletin) High
Price and the Fastmarkets MB Low Price 1, expressed in US dollars per pound, for the three
consecutive full calendar months immediately preceding each monthly Conversion Ratio Reset
Date. The Applicable Common Shares per Warrant Ratio disclosed here will apply on any warrant
Exercise Date from, and including, September 9, 2020 through October 7, 2020.
The next Applicable Reference Cobalt Price and Applicable Common Shares per Warrant Ratio
for the three-month period ended September 30, 2020 will be announced on October 7, 2020.
About Sherritt
Sherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with
projects and operations in Canada and Cuba. The Corporation is the largest independent energy
producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its
proprietary technologies and provides metallurgical services to mining and refining operations
worldwide. The Corporation’s common shares are listed on the Toronto Stock Exchange under
the symbol “S”.
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For more information, please contact:
Joe Racanelli, Director of Investor Relations
Telephone: 416-935-2457
Email: [email protected]
www.sherritt.com
1 The “Fastmarkets MB High Price” means the Fastmarkets Cobalt standard grade MB free market US$/lb in warehouse monthly
average high; and the “Fastmarkets MB Low Price” 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.