A little rehash of last year's withdrawn Public Offering - There was a lot more going on last year than there is now. GAC, you are correct that a price or number of units was never released. RVX was scrambling to stave off the effects of a bad TSX listing review. They were probably doing whatever they could to appease the TSX and maybe putting things in motion that they hoped to not have to use and eventually did not have to. The public offering might have just been a backup plan.

April 11/18 - Announced a commitment letter for $30mm Third Eye Loan (not a sure thing yet), RVX might have been confident but TSX might have required more.

April 12/18 - TSX extended the listing review by 30 days. April 11 letter might have bought them this time. Listing Review was triggered because RVX had relied on Hardship Exemption for the $87 mm Hepalink Private Placement. Within the announcement, they stated that they would raise capital including Third Eye Loan. They left it open at that time to other options also. 

April 17/18 - Public Offering without price or scale announced. This could possibly just have been appeasement towoard TSX that they had alternatives should Third Eye Loan not be closed. They might never have expected to use it.

May 1/18 - Third Eye Loan is closed. 

May 10/18 - TSX lifts Lifting Review stating that the company satisfies applicable requirements for continued listing. It appears that the TSX felt the Third Eye Loan was sufficient.

June 8/18 - Public Offering is withdrawn stating that market conditions are not currently conducive for a public offering. The heat is off from the TSX and price is too low to carry out PO.

They might have gone through with last year's PO had the price and interest been high enough. I can only guess. We might be in a similar situation now. The company does need cash and it won't look good should the price stay down and there be weak interest. Let's hope something stimulates the price and BB does their job to earn their 7%.