Business
SC2 Inc. Announces Offer to Purchase Common Shares of Sherritt International Corporation
SC2 Inc. Announces Offer to Purchase Common Shares of Sherritt International Corporation ...
About this update from Sherritt International Corporation
[{"type":"text","content":"\n \n \n \n SC2 Inc. Announces Offer to Purchase Common Shares of Sherritt International Corporation\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n April 8, 2024\n \n \n /CNW/ -\n \n SC2 Inc.\n \n (\"\n \n SC2\n \n \") is pleased to announce an offer (the \"\n \n Offer\n \n \") to purchase up to 21,621,621 common shares of Sherritt International Corporation (TSX: S) (\"\n \n Sherritt\n \n \") at a price of\n \n $0.37\n \n per common share (the \"\n \n Purchase Price\n \n \"), payable in cash.\n \n \n The Purchase Price is equal to an approximate 19.4% premium to the closing price of the common shares on the Toronto Stock Exchange (the \"\n \n TSX\n \n \") on\n \n April 8, 2024\n \n (being the previous trading day to the date of announcement of the Offer) and an approximate 27.6% premium to the volume-weighted average trading price of the common shares on the TSX for the 30 trading days prior to the announcement of the Offer.\n \n \n The Offer is for up to 21,621,621 of the outstanding common shares of Sherritt. The Offer is open for acceptance until\n \n 5:00 p.m.\n \n (\n \n Calgary\n \n time) on\n \n Friday, May 10, 2024\n \n (the \"\n \n Expiry Time\n \n \"), unless the Offer is extended, varied or withdrawn.\n \n \n SC2 has posted at\n \n www.sedarplus.ca\n \n , under Sherritt's profile, a letter to shareholders setting out more information pertaining to the Offer as well as a letter of transmittal (the \"\n \n Letter of Transmittal\n \n \") to be used to accept the Offer (collectively, the \"\n \n Letters\n \n \"). Please also see \"Details of the Offer\" below.\n \n \n The Offer is ...