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Warrants Alert

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Address: 500 - 1133 Yonge St
Toronto Ont Canada M4T 2Y7
Phone: 416 924 4551
Fax: 416 924 5015
Web Site: http://www.sherritt.com
 
Warrant Symbol - S.WT
Number  Trading - 47,232,200
Expiration Date - January 26, 2021
Cusip - 823901 13 7
Exercise Price - $1.95

Warrants called to trade news

Sherritt Int'l warrants to trade Jan. 25


2018-01-23 20:11 MT - Warrants Called to Trade

The Toronto Stock Exchange reports that Sherritt International Corp. warrants will be listed and posted for trading at the open on Jan. 25, 2018. According to the TSX, there will be 47,232,200 warrants issued. The warrants will trade under the symbol S.WT and Cusip No. 823901 13 7.

As stated in its prospectus supplement dated Jan. 17, 2018, the company will issue 94,464,400 units at $1.40 per unit in a public offering, with each unit consisting of one share and one-half of a cobalt-linked warrant. According to the TSX, the units will separate immediately upon closing of the offering.

The TSX reports that each whole warrant will entitle the holder to acquire that number of shares that is equal to the share-per-warrant ratio as shown in the attached table.

Applicable reference cobalt price (U.S. $/lb) Common shares per warrant ratio

$34.99 and under 1.00
$35 to $39.99     1.05
$40 to $44.99     1.10
$45 to $49.99     1.15
$50 to $54.99     1.20
$55 and over       1.25
According to the TSX, the applicable reference cobalt price will be calculated and published by the company monthly, based on a rolling average of the cobalt price for the prior three months using the midpoint of the metal bulletin high price and the metal bulletin low price, expressed in U.S. dollars per pound, for each month in the three-month period.

The TSX adds that at or about 5 p.m. Toronto time on the fifth business day of each calendar month, the company shall publish on its website and shall issue a news release in which it discloses the share-per-warrant ratio and the applicable reference cobalt price that will apply to each exercise date, and including the following business day (in Toronto) of such calendar month until and including the fifth business day of the immediately succeeding calendar month.

The warrants will expire at 5 p.m. Toronto time on the date that is 36 months from the closing date of the offering.

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