The Globe and Mail reports in its Thursday edition that Sherritt 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. The Globe's Jameson Berkow writes that 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 Capital is the Texas-based office of the Washburne family. Ray Washburne is a longtime real estate investor who then-U.S. president Donald Trump appointed in 2017 as president of the Overseas Private Investment Corp., a federal agency that specializes in helping U.S. businesses make politically risky deals. Mr. Washburne is now on Mr. Trump's intelligence advisory board. In February, Sherritt had to shut down its Moa nickel mine in Cuba owing to a lack of fuel.