Ann: Settlement of Institutional Entitlement Offer, page-19

Not a lawyer but this is my thoughts on what might happen

The government uses computers to automatically check any capital losses claimed in june are re-purchased in July
Any matching transactions probably get flagged and increase the chances of the taxpayer to get audited

As to whether or not the government would perceive the sale of TTT shares to buy TTTR and subsequently execute TTTR as a wash sale I have no idea.

Shares were selling above 3c at one point and TTTRs were buyable at 0.003c which meant you could sell your current shares and grab a whole lot more in the placement without losing any money

Just be willing to defend the action if you are looking to claim it on tax