I do not know the exact reason but according to my research the CR could be necessary
+ to finance the market entry of the graphene membranes and/or
+ for the Townsville Water Treatment Facility project and/or
+ for buying the ATA™ technology and/or
+ for the lithium extraction joint venture with a subsidiary of Ivanhoe Electric (like pointed out by others before)
The news that Robert Friedland will invest 2$ million is a good sign imo. He seems to need CNQ (for his projects) and believes in CNQ's technology. Otherwise he would not invest (I think he would not throw good money after bad).
Ann: Trading Halt, page-10
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