they told tsx on their application for hardship andtold investors they exhausted all options to raise money put the company in financial difficulty by also writedown of 150 million so they met criteria for hardship
after takeover they turn around and do rights offering raised 38 million in very short period of time
imagine how much they would have raised several months before when investors had much higher confidence it's clear if they would have raised money they would not have met criteria for hardship and would not have been able to do takeover and wipe out investors
this will all come out during discovery and if/when it goes infront of a judge TIME WILL TELL US IF THIS CIVIL SUIT WILL TURN INTO CRIMINAL SUIT since if it's shown that this was planned authorities will get involved lawyers are obtaining copy of their application at tmx for hardship who signed who voted for application