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)
PITTSBURGH (AP) — Pete Crow-Armstrong was 4 for 5 with a home run and three RBIs to lead the Chicago Cubs to an 11-0 rout of the Pittsburgh Pirates on Saturday night.
Shota Imanaga (7-8) held Pittsburgh to four hits in six innings, striking out four and walking one.
Pittsburgh's Paul Skenes (9-9), who had allowed five runs in 18 1/3 innings to win his previous three starts, struck out 11 in 5 1/3 innings but gave up five earned runs on six hits and two walks.
Crow-Armstong, who was a triple short of the cycle, had an extra-base hit in three straight innings, capped by a two-run homer over the wall in right off Ron Marinaccio to give Chicago a 10-run lead in the seventh inning. It was his 23rd of the season.
He also had a single in the first and an RBI double in the fifth off Skenes, and a double off Isaac Mattson in the sixth.
The Cubs struck out nine times against Skenes through the first four innings before solving him for three runs in the fifth. Crow-Armstrong sent a 2-2 changeup to the center field wall, driving in Dansby Swanson. Then, with the infield in and two runners in scoring position, Seiya Suzuki dropped a single into right field over first baseman Ryan O’Hearn.
Chicago scored five more in the sixth, chasing Skenes with one out after Nico Hoerner singled and Pedro Ramírez walked. Swanson lined an RBI double to left and Miguel Amaya drove in two more with a single. Michael Busch also hit a two-run single.
Jake Mangum was the only Pirates batter to reach second base against Imanaga, sending a sharp single past the glove of third baseman Alex Bregman for the first Pittsburgh hit with two outs in the third and taking second on a throwing error by Swanson.
Pirates RHP Braxton Ashcraft (9-4, 3.95 ERA) starts the series finale Sunday against Cubs RHP Jameson Taillon (2-5, 5.38).
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Pittsburgh Pirates pitcher Isaac Mattson walks off the mound after handing the ball to manager Don Kelly during the sixth inning of a baseball game against the Chicago Cubs in Pittsburgh, Saturday, July 25, 2026. (AP Photo/Gene J. Puskar)
Chicago Cubs pitcher Shota Imanaga delivers during the first inning of a baseball game against the Pittsburgh Pirates in Pittsburgh, Saturday, July 25, 2026. (AP Photo/Gene J. Puskar)
Pittsburgh Pirates pitcher Paul Skenes, left, and catcher Henry Davis, right, talk on the mound during the fifth inning of a baseball game against the Chicago Cubs in Pittsburgh, Saturday, July 25, 2026. (AP Photo/Gene J. Puskar)
Chicago Cubs' Pete Crow-Armstrong (4) and Miguel Amaya (9) celebrate after scoring on a single by Seiya Suzuki off Pittsburgh Pirates pitcher Paul Skenes during the fifth inning of a baseball game in Pittsburgh, Saturday, July 25, 2026. (AP Photo/Gene J. Puskar)
Chicago Cubs' Pete Crow-Armstrong hits a single off Pittsburgh Pirates pitcher Paul Skenes, driving in a run, during the fifth inning of a baseball game in Pittsburgh, Saturday, July 25, 2026. (AP Photo/Gene J. Puskar)
