Sherritt signs deal that would give majority ownership to a former Trump official
Sherritt International Corp. is nearing a deal that would give majority ownership to Gillon Capital LLC, a firm associated with a former Trump administration official. The agreement comes as Sherritt faces significant challenges due to U.S. sanctions on Cuba, which have impacted its operations. The company has indicated that the sale price will likely be at a discount to its current share value.
- ▪Sherritt has signed a non-binding share purchase warrant agreement with Gillon Capital LLC.
- ▪If exercised, Gillon would acquire a 55-percent ownership stake in Sherritt.
- ▪The deal is expected to be at a discount relative to Sherritt's recent share price of 11 cents.
- ▪Sherritt has been under pressure since U.S. sanctions on Cuba began in 2026, leading to the suspension of its operations there.
- ▪The U.S. State and Treasury Departments do not object to Gillon Capital's negotiations with Sherritt.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountCanadian miner Sherritt International Corp. S-T is nearing a sale to a former Trump administration official at a discount to its already heavily depressed share price after U.S. sanctions on Cuba forced the company to suspend its operations there.Toronto-based Sherritt said Wednesday it had signed a non-binding share purchase warrant agreement with Gillon Capital LLC. If exercised within nine months of the deal closing, the warrant would give Gillon a 55-per-cent ownership stake in the company.While no financial terms were disclosed, Sherritt said it expects the price “will be at a discount” relative to its May 15 closing price of 11 cents a share “given the current circumstances of the corporation.” Gillon…
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