Okay....so on Aug 28th we got the news of the loan extension.  In that PR it said the company was relying on the "financial harship exemption" from minority shareholder approval.  Check...the company didn't have to get minority shareholder approval because of the company's weak financial state.  Here's the quote from that PR....

The Company is relying on the "financial hardship" exemption from the minority approval requirement under MI 61-101 based on the board of directors having unanimously determined that the Company is in serious financial difficulty, the Loan extension is designed to improve the financial position of the Company and the terms of the Loan extension are reasonable in the circumstances of the Company.

Then on Sept 5th they issued a PR to say they'd closed the extension...whoo hoo.  

Subsequently we had the news of the Private Placement with Hepalink on October the 13th....Friday the 13th no less.  It seems this transaction also required minority shareholder approval.....unless....Yes, financial hardship exemption comes into play once again.  Here's what that PR said: 

The Company has applied to TSX for an exemption from the requirement to obtain shareholder approval for the private placement based on the financial hardship exemption in Section 604(e) of the TSX Company Manual, and the Company plans to rely on a similar exemption from the requirements of MI 61-101, based on the board of directors of the Company having determined that the Company is in serious financial difficulty, the private placement is designed to improve the financial position of the Company and the terms of the private placement are reasonable in the circumstances of the Company.

So one financial hardship exemption is not the same as another....the latter has the company under a seemingly automatic delisting review, while the former does not.