The fact that there appears to have been no further anns from THC Bio since the ann on 24/4/18 regarding the acquisition of 51% of BHC suggests that there is unlikely to be any change of plan by the Canadian company.
The delay in finalising the QBL ASX ann clearly supports the company statement that the acquisitions are complex, and that could perhaps support the theory that there might be some overseas elements in the deals. However, the complexity could equally be due to other factors, such as the float of MCL as a separate listed company.
A separate listing during 2018 is a very real possibility, and the nature of the acquisitions could have increased that likelihood, and might involve issuing shares in the 'new MCL' to parties involved in the acquisitions.
If MCL is floated, there are two probable options which QBL might be considering. (1) they might (for the time being) retain their substantial interest in MCL, and give QBL shareholders preferential treatment in the float. (2) They might transfer their interest in MCL to QBL shareholders by way of free shares, such as 1 free MCL share for each 10 QBL shares held, which would give current holders shares in both QBL and MCL.
While the directors probably favour option (1), I would personally prefer to see option (2) adopted, and have MCL completely divorced from QBL. I believe that as a completely separate entity, MCL would have greater market appeal as a pure MC/Hemp company, and QBL could then resume concentrating on developing its mining interests.
It seems that the suspense will very soon be over, and we can stop speculating, but it has been an interesting (if a little frustrating) few weeks. I still have high hopes that the wait will have been well worthwhile.
QBL Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
