RE: RE: RE: RE: RE: Ask is drying up...Sorry for the confusion. I meant they may have announced the potential new project at a time when AQN was pulling (and causing price to go down) so that they could issue shares to the owners of the 'new project' at a lower price. THis would be the case for example where they had previous discussions when the share price was around 1.30, and the deal was going to fall apart if they could not issue shares at that price, or where management wants to see share issued to the owners at that price for other reasons (easier to issue shares than raise cash, want to get new shareholders a sizeable chunk, existing relationship with owners of the project, etc.)
Alternatively, they issued the share release to tell AQN that the value will only keep rising, and there is no way that $2.50 is strong enough. They were calling AQN's bluff in the sense that if AQN was not willing to offer more than $2.50 (meaning this was nothing more than a predatory bid) than they should call it a day.