You are obviously new to this game. . Mcig wasn't misquoted, and their would be no fraud because they stated it was an agreement 'to' buy'. It would likely be a stipulation on licensing or raising enough funds to buy. If the stipulation is met, then mcig would be obligated. In the mean time, the land is likely offering mcig first right of refusal.
This is why pps didn't move up at the end if the day. If they had bought, the PR would have said bought the land. So many details missing from the PR for an actual purchase.