L1 Capital Global Opportunites Master Fund, page-30

I'm not the brightest spark in the engine.
If I understand this correctly L1 are a long/short fund.
They have had success shorting tech and mining stocks.

Also L1 have provided funding to XPE via the convertible note agreement.

Thus L1 can dump the shares from the convertible note agreement, pushing the SP down, which in turn greatly assists their shorting activities. We cannot be sure L1 were shorting XPE, but it seems highly likely.

L1 have clearly done nothing wrong.

However for XPE I wonder why the original (and subsequent) CN announcements never named L1. 'A leading institutional investor' is what the ann. stated.
For what reasons are XPE allowed to withhold the identity of L1?
I have serious misgivings about the XPE board for signing this CN agreement with a known long/short fund.
Feel free to read more between the lines.