IMO if MB has said “No” then that would constitute materially sensitive news and it would have to be disclosed separately in line with continuous disclosure rules.
If Anteo needs $8.5 million to buy some new machine in order to make more gloop to keep MB happy then why not say it up front? It would be understandable.
But if they need $8.5 million to keep the lights on and the salaries going because no income due in the foreseeable future then that’s bad capital management IMO. It also begs the question why now (of all times) and not later?
ADO Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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