My understanding is that BRT had an obligation to make a payment before June 30 and they were unable to so they had to ask MFC for an extension. BRT were nearly insolvent on June 30 hence the reason for them performing a placement at that time. Obviously MFC were concerned about not getting paid so a deal was made - a loan was given as well as an extension to the payment deadline and the security was the MFC licence. BRT didn't have any other way of getting cash at short notice.
Really that simple Livas1.
BRT Price at posting:
1.1¢ Sentiment: Sell Disclosure: Held
