Ann: A40: $32.5m Strategic Institutional Placements, page-129

There's a difference between a strategic placement to block a takeover run in the industry or to benefit from a40 upside price wise. But in my opinion, companies don't share experience or potential trade secrets with a smaller less experienced competitor / rival without much higher exposure. The more I consider its a chance to see how the two companies can closely work together for a BH JV. If a JV doesn't pan out a TO. Is a possibility. Or GXY may be content if there's another A40 placement available in 6 months.
DYOR