TORONTO -- Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today provided an update on its financial position. Further to its news release dated June 22, 2026 in respect of metals refining activity having stopped at its refinery in Fort Saskatchewan, Alberta and the suspension of direct participation in joint venture activities in Cuba since May 7, 2026, the Corporation continues to operate with constrained liquidity and a material uncertainty that may cast doubt on its ability to continue as a going concern. Sherritt remains in active discussions with its senior lenders and noteholders regarding advancing a comprehensive recapitalization intended to stabilize its balance sheet and restore normal operations when circumstances permit. The capital required to restart both those operations has been further increased by the significantly elevated cost of key inputs — in particular sulphur, the price of which has risen to historic highs largely as a result of global supply restrictions. The Corporation requires a significant amount of new capital to fund the restart and related working capital, and is actively pursuing a combination of government support, including with the assistance of Gillon Capital LLC (“Gillon Capital”), strategic and bridge financing, and other sources to meet its capital requirement. There can be no assurance that such financing will be available or be able to be completed on acceptable terms, on the anticipated timeline, or at all. Read More

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