/NOT INTENDED FOR DISTRIBUTION TO
UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
CALGARY, AB, April 22, 2024 /CNW/ - SC2 Inc.
("SC2") is pleased to announce that 16,899,224 common shares
of Sherritt International Corporation (TSX: S) ("Sherritt"),
representing 4.25% of the Sherritt public float, have already been
tendered to the previously announced offer by SC2 to purchase up to
21,621,621 common shares of Sherritt, at a price of $0.37 per common share (the "Offer").
Only 4,722,397 common shares remain available for purchase under
the Offer, which expires on May 3,
2024. SC2 expects to take up and pay for all the common
shares tendered to the Offer no later than May 7, 2024.
If more than the maximum number of common shares for which the
Offer is made are delivered in accordance with the Offer and not
withdrawn at the time of take up of the common shares, the common
shares to be purchased from each depositing shareholder will be
determined in priority based on the order in which those deposits
were received by the Olympia Trust Company, the Depositary and
Information Agent, rather than on a pro rata basis according
to the number of common shares delivered by each shareholder.
For more information on the Offer please refer to SC2's news
releases dated April 8, 2024, and
April 10, 2024, and the letter to
shareholders and letter of transmittal to be used to accept the
Offer, which are posted at www.sedarplus.ca, under Sherritt's
SEDAR+ profile.
If you have any questions with respect to the Offer, or need
assistance in depositing your common shares, please contact the
Depositary and Information Agent for the Offer: North America Toll
Free Number: 1-833-684-1546; Outside North America Call Collect:
1-587-774-2340; Email: cssinquiries@olympiatrust.com.
Forward-Looking
Information
This news release contains forward-looking information within
the meaning of securities laws. In general, forward-looking
information refers to disclosure about possible conditions, events,
or financial performance that is based on future economic
conditions and courses of action, and includes disclosure that is
presented as a forecast, plan, or projection. More particularly and
without limitation, this news release contains forward looking
information concerning SC2's plans to take up and pay for the
common shares of Sherritt that are tendered to the Offer. The
forward-looking information is based on certain key expectations
and assumptions made by SC2. Although SC2 believes that the
expectations and assumptions on which the forward-looking
information is based are reasonable, undue reliance should not be
placed on the forward-looking information because SC2 can give no
assurance that they will prove to be accurate. By its nature,
forward-looking information is subject to various risks and
uncertainties, which could cause the actual results and
expectations to differ materially from the anticipated results or
expectations expressed in this news release. Readers are cautioned
not to place undue reliance on this forward-looking information,
which is given as of the date of this news release, and to not use
such forward-looking information for anything other than its
intended purpose. SC2 undertakes no obligation to update publicly
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
securities laws.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND
IS NOT AN OFFER OR SOLICITATION TO PURCHASE SECURITIES IN ANY
JURISDICTION IN WHICH, OR TO OR FROM ANY PERSON TO OR FROM WHOM, IT
IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION UNDER APPLICABLE
SECURITIES OR OTHER LAWS. THE OFFER IS BEING MADE SOLELY PURSUANT
TO THE LETTERS, WHICH SET FORTH THE COMPLETE TERMS OF THE OFFER
THAT SHAREHOLDERS SHOULD CAREFULLY READ PRIOR TO MAKING ANY
DECISION.
SOURCE SC2 Inc.
