Sherritt International Corporation
TSX : S

Sherritt International Corporation

March 25, 2008 11:45 ET

Sherritt International Corporation Announces Filing and Mailing of Formal Offer to Royal Utilities Income Fund Unitholders

TORONTO, ONTARIO--(Marketwire - March 25, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation (TSX:S) today announced that it has publicly filed its formal offer for the units of Royal Utilities Income Fund (the "Fund") (TSX:RU). The filing is available on SEDAR at www.sedar.com. Sherritt has also mailed and delivered the offer and circular to the Fund's registered unitholder, and commenced the process of mailing to the Fund's beneficial unitholders.

The Sherritt offer will expire on April 28, 2008, unless extended, and remains subject to certain conditions, including the tendering to the offer of at least a majority of the total number of units outstanding (other than those owned directly or indirectly by Sherritt), and the receipt of the necessary regulatory approvals.

About Sherritt

Sherritt is a diversified resource company that produces thermal coal, nickel, cobalt, oil and gas and electricity. It also licenses its proprietary technologies to other metals companies. A low-cost operator across all segments, Sherritt's success is built on utilizing innovative technologies and the breadth of its financial and operational expertise to increase productivity and profitability. Sherritt continues to explore opportunities to grow its $5.5 billion asset base through expansion of its existing businesses and strategic acquisitions. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".

In addition to its significant nickel production, Sherritt operates and owns 41.2% of Royal Utilities Income Fund, the largest thermal coal producer in Canada. Sherritt currently produces over 30,000 barrels of oil equivalent per day and has 376 megawatts of power generation capacity.

Forward-looking Statements

This news release may contain forward-looking statements. Forward-looking statements generally can be identified by the use of statements that include words such as "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These forward-looking statements are not based on historic facts, but rather on current expectations, assumptions and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are beyond Sherritt's ability to control or predict. Sherritt does not intend, and does not assume any obligations, to update these forward-looking statements.

Contact Information

  • Sherritt International Corporation
    Investor Relations
    (416) 924-4551
    Website: www.sherritt.com