Sherritt International Corporation (S.TO) provided Monday updates regarding the Executive Order issued by the U.S. administration on May 1, 2026, expanding its sanctions against Cuba.
Sherritt in Monday's statement said it plans to issue a notice of application today in the Ontario Superior Court of Justice, Commercial List, under which Sherritt plans to seek, among other things, a compliance order under the Canada Business Corporations Act permitting the corporation's board of directors to continue to act notwithstanding vacancies and with the remaining directors constituting quorum. The application is scheduled to be heard before the Court on May 14, 2026, it added
Sherritt also announced revised details for the announcement of its first quarter 2026 results, originally scheduled for May 12, 2026. To accommodate the anticipated timing to seek the aforementioned court orders, Sherritt plans to delay the release of its first quarter 2026 results until after market close on May 15, 2026. Sherritt said it will not be holding a conference call and webcast in connection with the release of these results as previously announced.
Sherritt added it will continue to consult with its advisors and stakeholders as it assesses the implications of the Executive Order.
Shares in Sherritt were slightly lower in Canada on Friday.