Sherritt's Big Move: Amending the CBCA Transaction and Extending the Early Consent Deadline

Ladies and gentlemen, buckle up! Sherritt International Corporation just made a massive announcement that could shake up the market. They've amended their previously announced CBCA Transaction and extended the early consent deadline. This is a game-changer, and you need to pay attention!

First things first, let's talk about the amendment to the Junior Notes Exchange Ratio. Sherritt has increased it from 0.50 to 0.60. WHAT DOES THIS MEAN FOR YOU? It means that Junior Noteholders are getting a better deal. They'll receive a higher proportion of the Amended Senior Secured Notes in exchange for their existing Junior Notes. This is a big incentive for them to vote in favor of the CBCA Plan. And why is this important? Because the success of this transaction depends on getting the majority of Noteholders on board.

Now, let's talk about the extension of the early consent deadline. Sherritt has pushed it back to March 28, 2025. WHY IS THIS A BIG DEAL? It gives Noteholders more time to review the transaction and make informed decisions. More time means more chances for Sherritt to negotiate and gain support. And guess what? They've already got the support of certain holders of Existing Notes holding approximately 42% of the outstanding Senior Secured Notes. That's a significant chunk, and it shows that Sherritt is serious about making this work.

But wait, there's more! Sherritt is also offering early consent considerations. Senior Secured Noteholders who vote in favor of the CBCA Plan by the Early Consent Deadline will get a cash payment equal to 3% of the principal amount of the Senior Secured Notes. Junior Noteholders, on the other hand, will get additional Amended Senior Secured Notes equal to 5% of the principal amount of the Junior Notes. THIS IS A NO-BRAINER! These incentives are designed to get Noteholders to support the transaction, and it's working.



So, what does all this mean for Sherritt's capital structure and financial health? It's a win-win situation. By extending the maturities of its note obligations and reducing its total outstanding notes obligations by up to approximately $32 million, Sherritt is strengthening its financial position. This reduction in debt obligations can improve liquidity and financial flexibility, allowing Sherritt to focus on its core operations and strategic initiatives.

But don't just take my word for it. Look at the data. Sherritt's stock price has been on a rollercoaster ride over the past three years, but with this amendment and extension, it's poised for a comeback. This is your chance to get in on the ground floor and ride the wave to success.

So, what are you waiting for? DO THIS NOW! Get in touch with your intermediaries, review the Circular, and make your voice heard. This is a once-in-a-lifetime opportunity to be part of Sherritt's turnaround story. Don't miss out on this chance to be a part of history!