Yet Another TheoryApologies if someone already posted this; and please know that I spent no time on research so I don't know this as fact, but the reports of exempt distribution show that a Cayman investor (could possibly be 2, but seems unlikely) acquired at least $27.5mm in convertibe debentures and held $2mm already, together with warrants. If they exercised the conversion right early, they might have tripped the takeover bid early warning system by taking ownership 10%+ of the total issued and outstanding shares of ACB.
I don't know offhand if this triggers a trade halt pending news, but it would ultimately amount to mandatory non-news unless the shareholder actually wanted to pull a propertakeover to 20%. I also didn't bother verifying the conversion restrictions to see if this is feasible.
Just wanted to join the speculation party.