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)
ABUJA, Nigeria (AP) — The Nigerian army said Sunday it freed 360 people abducted by Boko Haram in southern Borno, in the northeastern part of the country.
The operation, according to the army’s statement, was conducted in the Mandara mountains which form a part of the militant group’s stronghold. It resulted in the release of several people, including children, who had been abducted across different communities in Borno.
Two infants “succumbed to exhaustion" due to the challenging mountainous terrain and the hardship they endured during their prolonged captivity, an army spokesperson, Haruna Sani, said.
“The remaining rescued abductees were successfully evacuated to safe locations for medical care and humanitarian support, marking a major operational success and a significant setback for the terrorist group,” Sani said.
Nigeria faces a complex security crisis, especially in the north where a more than decade-long insurgency and the activities of armed groups that carry out kidnappings for ransom and illegal mining have heightened the country’s security challenges.
Among the most prominent Islamic militant groups are Boko Haram and its breakaway faction, which is affiliated with the Islamic State group and known as Islamic State West Africa Province.
Last month, the West African country said its joint operation with the United States had killed 175 ISWAP fighters.
The insurgency in Nigeria’s northeast has killed thousands of people and displaced millions, according to the United Nations. Analysts say not enough is being done by the government to protect its citizens, despite repeated promises by President Bola Tinubu to curb the crisis.
In this photo released by Nigerian Army, freed women and children that were abducted by Boko Haram in southern Borno, Nigeria. Saturday, June 6, 2026. (Nigerian Army via/AP)
In this photo released by Nigerian Army, freed women and children that were abducted by Boko Haram in southern Borno, Nigeria. Saturday, June 6, 2026. (Nigerian Army via AP)
In this photo released by Nigerian Army, freed women and children that were abducted by Boko Haram in southern Borno, Nigeria. Saturday, June 6, 2026. (Nigerian Army via AP)
People protest demanding government to rescue the school children that were recently kidnapped in various part of the country, on the street of Abuja, Nigeria. Thursday, June 4, 2026. (AP Photo/Olamikan Gbemiga)
