The only problem i see with that theory greystone is that there...

The only problem i see with that theory greystone is that there is already an agreement between the two parties (Mantle and Exergen) so i'm not sure it would matter if the JV was done before or after.

The people doing the allocations would surely know of this as its been announced previously, so no one would be pulling the wool over their eyes.

There could of course be other reasons its not done before the allocation, but not convinced that would be the reason.