Either, TSN buys in and the SP goes up. OR they are outbid by...

Either, TSN buys in and the SP goes up. OR they are outbid by another investor and the value of their assets go up. To an extent I see this as win win.

But, they usually raise money at 1.8 cents, they'd be keeping the SP at 2.8 cents so they can go to investors "We will offer shares at 1.8 cents (35% discount) and need the $ so may offer options again on another three year contract. Then, as the contract options are at 3 cents, they'll take their foot off the sp and bring it up over three cents. Investors are happy, they don't have to payout money for the stocks blah blah

In regards to what the share price will be? Sheesh, if they don't buy it i'd say a 20% increase. If they gain control of this asset (let's say 100% ownership) then we could see the value of the companies assets increase by 45m so double it's market cap. But, then they will have secured future cashflows so their value via dcf would increase.

If they mess up somehow= 2 cents
IF they don't buy = 3.5 cents.
IF they buy 25% = 7-9 cent.
IF they buy 100% = 10+

To be honest, those are just opinions and not calculations. But they have soo many shares on offer and will issue more to raise this money so dilution could reduce the volatility of this stock.