Sherritt Announces Appointment of Interim CFO

0 0 5 minutes read

Article content

NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR DISTRIBUTION IN THE UNITED STATES

Article content

TORONTO – Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX: S) today announced the appointment of Fitzroy Richardson as Chief Financial Officer, effective immediately. The appointment of Mr. Richardson will provide experienced financial leadership as the Corporation works to complete its remaining quarterly filings, an important step toward seeking the revocation of the Fail-to-File Cease Trade Order issued by the Corporation’s chief executive on May 21, 2026.

Article content

“Fitzroy brings deep knowledge of Sherritt’s business, strong financial leadership and extensive experience across treasury and international operations,” said Dr. Peter Hancock, Interim President and Chief Executive Officer. “His appointment strengthens our leadership team at a critical time providing continuity and support.”

Article content

Mr. Richardson is a veteran financial executive with nearly 30 years of experience at Sherritt, where he held a number of finance and treasury roles. He currently serves as President of New Providence Metals Marketing Inc., a subsidiary of Sherritt. Prior to this, he held several senior roles at Sherritt, including Vice President, Global FP&A and Treasury and Director of International Finance and Treasury Operations. Mr. Richardson is a Certified Public Accountant (CPA) and holds a Masters of Business Administration from the University of Western Ontario and a Masters of Science in Accounting and a Bachelor of Science in Management from the University of the West Indies.

Article content

About Sherritt

Article content

Sherritt is a world leader in the use of hydrometallurgical processes to mine and refine nickel and cobalt – metals considered essential to the energy transition. Using its technological expertise and decades of experience in the processing of precious minerals, Sherritt is committed to increasing domestic refining capacity and reducing dependence on foreign sources. The Corporation operates a major refinery in Alberta, Canada, recognized as the only major cobalt refinery and one of three nickel refineries in North America.

Article content

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

Article content

Forward-Looking Statements

Article content

Certain statements and other information included in this press release may constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws (these statements are often accompanied by words such as “expect”, “forecast”, “anticipate”, “believe”, “hope”, “expect”, “expect”, “hope”, “intend” or similar words).

Article content

All statements in this press release, except those related to historical information, are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the expected duration of FFCTO and the Company’s ability to complete the Q1 Settlement and its expected timing.

Article content

The Corporation cautions readers of this press release not to place undue reliance on any forward-looking statement as many factors could cause actual future results, conditions, actions or events to differ materially from the intentions, expectations, estimates or objectives expressed in the forward-looking statements. Such factors include, without limitation, ongoing risks related to Sherritt’s operations in Cuba and future actions taken by the US government with respect to Cuba, including with respect to the Executive Order; Sherritt’s level of capital, including access to capital and financing; the risk or loss of Sherritt’s rights to future distributions (including pursuant to the Cobalt Exchange) from the Moa JV; the Corporation’s inability to comply with credit limits and covenants; the Company’s inability to comply with the listing requirements of the Toronto Stock Exchange or other recognized stock exchange; uncertainty in the Company’s ability to enforce legal rights in foreign jurisdictions; uncertainty regarding the interpretation and/or application of applicable laws in foreign jurisdictions; tax risk; political, economic and other risks of foreign operations; security market volatility and price volatility; risks related to environmental liabilities including liability for remediation costs, tailings facility failure and toxic gas emissions; compliance with applicable environmental, health and safety legislation and other related matters; risks associated with government regulations regarding climate change and greenhouse gas emissions; risks related to public relations; maintaining a social license to grow and operate; risks associated with the operation of large projects in general; the ability to replace depleted mineral reserves; risks associated with the Company’s business partners; risks associated with mining, processing and refining operations; reliance on key personnel and skilled workers; risks related to the Company’s business structure; foreign currency and price risks; credit risk; access to markets in the future; interest rate changes; risk in obtaining insurance; uncertainty in labor relations; legal emergencies; risks related to the Company’s accounting policies; uncertainty in the Company’s ability to obtain government approvals; failure to comply with, or changes in, applicable government regulations. Significant risks and uncertainties should be considered in conjunction with the risk factors described in the Company’s other documents filed with Canadian securities authorities, including without limitation the “Risk Management” section of the Management’s Discussion and Analysis for the three months and year ended December 31, 2025 and the Company’s Annual Information Form, December 3, 2, 20 March 20. 2025, available on SEDAR+ at www.sedarplus.ca. The forward-looking information and statements contained in this press release are made as of the latest date and the Company undertakes no obligation to publicly review or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are qualified solely by this cautionary statement.

Article content