TORONTO (AP) — Canadian miner Sherritt International Corp. has signed a non-binding agreement with Gillon Capital LLC, a family office linked to a former adviser of U.S. President Donald Trump, that would allow Gillon to buy a majority stake in the company as it navigates sanctions on its operations in Cuba.
The company's announcement Wednesday comes a day after the Toronto-based Sherritt said it is no longer pursuing a plan to dissolve its Cuban joint venture, reversing a decision it announced last week amid expanded U.S. sanctions on the country.
The preliminary private placement deal would see Gillon hold a warrant that would allow it to buy enough shares to give it a 55% stake in the company. If the deal goes ahead, Sherritt says it expects the price paid by Gillon will be at a discount to its closing share price on May 15.
Sherritt, which has a 32-year presence on the island, suspended direct participation in its Moa joint venture in Cuba earlier this month after the U.S. ramped up pressure on the Caribbean country.
Gillon is the family office for the Washburne family. Ray Washburne was appointed by Trump as head of the U.S. development bank known as Overseas Private Investment Corporation from 2017 to 2019. He later served as a member of the president’s intelligence advisory board. He was vice chairman of the Trump Victory Committee in 2016 and has been a major Republican fundraiser.
Gillon did not immediately respond to a request for comment.
In connection with the agreement, Sherritt says it has confirmed that the U.S. State and Treasury Departments do not object to Gillon’s talks with the company, but that any deal would require their approval.
“Sherritt has engaged constructively with the United States Department of State, which has confirmed that the Department of State and Department of Treasury do not object to Gillon Capital’s engagement in negotiations with the Corporation and, based on the information provided to date, do not consider such negotiations to be contrary to U.S. law,” Sherritt said in a statement.
FILE - Ray Washburne waits for an elevator in the lobby of Trump Tower in New York on Nov. 30, 2016. (AP Photo/Evan Vucci, File)
MOUNTAINAIR, N.M. (AP) — Three people are dead and more than a dozen first responders had to be quarantined and assessed Wednesday for possible exposure to an unidentified substance after being called to a suspected drug overdose at a rural New Mexico home, authorities said.
New Mexico State Police said three of the four people found unresponsive inside the home east of Albuquerque died. The fourth was being treated at a hospital in Albuquerque.
During the response, authorities said, first responders were exposed to the substance and began experiencing symptoms including nausea and dizziness.
Officials at University of New Mexico Hospital confirmed that 23 patients who were exposed to an unknown substance were assessed and decontaminated after being transported to the hospital. Most of those were first responders who were showing no symptoms and were later discharged.
Medical teams continued to monitor three symptomatic patients Wednesday evening, according to the hospital.
Two first responders were listed in serious condition, said Officer Wilson Silver with New Mexico State Police.
Mountainair EMS Chief Josh Lewis, who was the first to enter the residence, was hospitalized overnight for observation, Mountainair Mayor Peter Nieto said in a social media post.
Also among those experiencing symptoms were EMTs from Torrance County and nurses from the University of New Mexico hospital who came into contact with individuals on scene, he said. The mayor added that public works crew had confirmed that the health issues were not related to carbon monoxide or natural gas exposure.
Albuquerque Fire Rescue Hazmat teams were assisting at the scene in Mountainair, a rural community east of Albuquerque, in efforts to identify the substance involved.
“At this time, investigators believe the substance may be transmitted through contact and do not believe it to be airborne,” Silver said.
As law enforcement officers from multiple agencies remained on the scene late Tuesday afternoon, three bodies were placed onto gurneys and then loaded into a white van and driven away.
Yellow police tape surrounded the home, located on a dirt road in a rural subdivision. A singlewide trailer could be seen in the home's backyard, with several cars, trucks and vans in the driveway.
While the investigation was ongoing, Silver said indications were pointing toward drugs as a possible factor in the deaths. He added that there was no threat to the public.
Residents, however, took to social media to voice their frustrations about drug use in the community and elsewhere.
The mayor said the town's law enforcement officers and first responders work every day to protect the community and respond to difficult situations.
“But the reality is that addiction and substance abuse are issues affecting communities all across our state and nation,” Nieto said. “There is no simple or immediate solution. Lasting change requires family support, accountability, education, and most importantly, individuals who are willing to accept help.”
Montoya Bryan reported from Albuquerque, New Mexico.
Workers remove a body in Mountainair, N.M., Wednesday, May 20, 2026, after several people died and more than a dozen first responders were exposed to an unknown substance. (AP Photo/Savannah Peters)
New Mexico State Police respond to home in Mountainair, N.M., where authorities say several people died Wednesday, May 20, 2026, and more than a dozen first responders were exposed to an unknown substance and later treated at a hospital. (AP Photo/Savannah Peters)
The University of New Mexico Hospital is seen on July 25, 2025, in Albuquerque, New Mexico. (AP Photo/Susan Montoya Bryan)
A New Mexico State Police vehicle blocks off a neighborhood in Mountainair, N.M., where authorities say several people died Wednesday, May 20, 2026, and more than a dozen first responders were exposed to an unknown substance and later treated at a hospital. (AP Photo/Savannah Peters)
FILE - A New Mexico State Police emblem is displayed on podium during a news conference, March 16, 2024, in Albuquerque, N.M. (Jon Austria/The Albuquerque Journal via AP, File)
