TORONTO, ONTARIO--(Marketwired - April 9, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Sherritt International Corporation ("Sherritt") (TSX:S) provided the following in response to today's disclosure by dissident shareholder George Armoyan.
"Sherritt has positive momentum on the basis of a disciplined plan to pay down debt, cut costs and focus on areas of core expertise, with improved operating performance and an improved production and commodity outlook," said Harold (Hap) Stephen, Chairman of Sherritt. "A series of positive analyst and media reports followed the March 28 -29 tour of the Ambatovy operations, including two ratings upgrades by analysts who share our confidence in this project. All of our shareholders have benefited from the approximately 16% increase in our stock price from Friday March 28, the day prior to the issuance of our proxy circular and the analyst upgrades, through the close of trading on Tuesday, April 8."