Sherritt Publishes Cobalt Reference Price and Warrant Conversion Ratio for August 2020
11 8월 2020 - 6:05AM
Business Wire
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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 July 31, 2020.
Reference Date
Applicable Reference Cobalt
Price
Applicable Common Shares per
Warrant Ratio
July 31, 2020
US$14.58
1.00
Consistent with the terms of the Warrant Indenture dated as of
January 25, 2018 and available on SEDAR, Sherritt will calculate
and publish the Applicable Reference Cobalt Price based on the
simple average of the midpoint of the Fastmarkets MB (formerly
known as Metal Bulletin) High Price and the Fastmarkets MB Low
Price1, expressed in US dollars per pound, for the three
consecutive full calendar months immediately preceding each monthly
Conversion Ratio Reset Date. The Applicable Common Shares per
Warrant Ratio disclosed here will apply on any warrant Exercise
Date from, and including, August 11, 2020 through September 8,
2020.
The next Applicable Reference Cobalt Price and Applicable Common
Shares per Warrant Ratio for the three-month period ended August
31, 2020 will be announced on September 8, 2020.
About Sherritt Sherritt is a world
leader in the mining and refining of nickel and cobalt from
lateritic ores with projects, operations and investments in Canada,
Cuba and Madagascar. The Corporation is the largest independent
energy producer in Cuba, with extensive oil and power operations
across the island. Sherritt licenses its proprietary technologies
and provides metallurgical services to mining and refining
operations worldwide. The Corporation’s common shares are listed on
the Toronto Stock Exchange under the symbol “S”.
1 The “Fastmarkets MB High Price” means the Fastmarkets
Cobalt standard grade MB free market US$/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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200810005388/en/
Joe Racanelli, Director of Investor Relations Telephone:
416-935-2457 Email: investor@sherritt.com www.sherritt.com
Sherritt (TSX:S)
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