Sherritt Provides Update Regarding Court Ruling on Shareholder Meeting Request

TORONTO — Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) has issued an update regarding a court application filed by Kyma Capital Limited (“Kyma”). The application sought to mandate a shareholder meeting to be held by the end of September 2026. The Ontario Superior Court of Justice (Commercial List) has advised that it cannot compel a meeting within the timeframe requested by Kyma.

In an endorsement issued today, the Court addressed a press release from Kyma claiming that a shareholder meeting had already been scheduled for late September. The Court clarified that no such meeting has been called. The Court noted:

“It has also come to my attention that the applicant [Kyma] has put out a press release suggesting that a shareholder’s meeting has already been called for the end of September. That is not, of course, true. The applicant has sought to do so, but it has not yet been called and given the court’s timetable will not be called unless the respondent [Sherritt] agrees to do so on consent (which it has not). It is not to anybody’s advantage to carry on the court room battle through press releases nor is the creation of confusion among shareholders helpful to the process. I accept that the release was an error and urge the applicant to issue an appropriate correction as soon as possible.”

Sherritt anticipates that Kyma’s application to move the combined annual and special meeting of shareholders to an earlier date than the currently scheduled December 15, 2026, will be heard in late September. Sherritt remains focused on addressing the significant challenges currently facing the Corporation and advises stakeholders to remain cautious regarding statements made by third parties. The Corporation will continue to provide factual updates as developments progress.

About Sherritt

Sherritt is a global leader in hydrometallurgical processes used to mine and refine nickel and cobalt—metals essential to the energy transition. Utilizing extensive technical expertise and decades of experience in critical mineral processing, Sherritt is dedicated to expanding domestic refining capacity and decreasing reliance on foreign sources. The Corporation operates a strategically vital refinery in Alberta, Canada, which is recognized as the only significant cobalt refinery and one of only three nickel refineries in North America.

Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.

Source link