IF (and this is just speculation from a clueless investor) the...

IF (and this is just speculation from a clueless investor) the acquisition is BHC then the deal/deals would indeed be complicated and involve THC Biomed .
"THC's investment of $1,088,357 (Australian) into BHC will take the form of an investment into shares at 20 cents per share for a total of 5,441,785 investment shares. The investment shares will be non-voting, non-participating and non-dividend shares while BHC is a private company, but the investment shares will convert into regular common shares in the event that BHC goes public in Australia."
Should the purchase of BHC by MCL involve cash + QBL shares I am surmising THC's 5 mil+ shares converting to common shares would mean the deal/deals may need reworking to comply with asx listing rules.
All pure speculation but hopefully not in the "unable to comply" category