12:06 PM EST, 12/11/2024 (MT Newswires) -- (Update shares.)

SC2 on Wednesday said it bought 40-million shares in Sherritt International ( SHERF ) from a shareholder at $0.155 apiece for a total of $6.2 million.

Prior to the agreement, SC2 transferred ownership of over 19-million shares in Sherritt ( SHERF ) to Ewing Morris at $0.21 apiece for $4 million.

Immediately prior to the transaction, SC2 together with Ewing Morris and a director owned a 4.82% stake in Sherritt ( SHERF ).

Following the transaction, SC2, Ewing Morris and the director owned a 14.90% stake in Sherritt ( SHERF ).

SC2 acquired the shares as part of its investment objectives.

Sherritt ( SHERF ) shares were last seen up $0.01 to $0.18 on the Toronto Stock Exchange.

Price: 0.18, Change: +0.01, Percent Change: +6.06