Sherritt Seeks Court Approval for 3-Director Board as Cuba Suspension Delays Q1 Results
Updated
Updated · MarketWatch · May 11
Sherritt Seeks Court Approval for 3-Director Board as Cuba Suspension Delays Q1 Results
8 articles · Updated · MarketWatch · May 11
Thursday’s Ontario court hearing will decide whether Sherritt’s remaining directors can keep acting as a quorum despite board vacancies and whether its annual meeting can be pushed to Sept. 30, 2026.
Friday’s first-quarter results were delayed from Tuesday because the company wants the court orders in place first; Sherritt also canceled its usual investor meeting after the release.
Three directors — Brian Imrie, Richard Moat and Brett Richards — resigned after Sherritt suspended direct participation in Cuban joint ventures and began repatriating employees.
The governance disruption follows a U.S. executive order this month expanding sanctions on Cuba, which Sherritt says has not formally designated the company but has forced it to assess implications for assets including Energas and the Moa nickel-cobalt venture.
As its Cuban supply line is severed, can North America's only cobalt refinery survive the geopolitical fallout?
With a key Western firm forced out of Cuba, is China about to seize control of the island's vital resources?