Looks to me like the exchange reviews the deal and makes sure it is all in order befor the release is made public. Not sure how you come up with the 18 month timeline to complete a Qualifying Transaction.
12.2 Announcement of Agreement in Principle Regarding a Proposed Qualifying Transaction
When an Agreement in Principle is reached, the CPC must immediately prepare and submit to the Exchange for review, a comprehensive news release which must include:
(a) the date of the agreement;
(b) a description of the proposed Significant Assets, including:
(i) a statement as to the industry sector in which the Resulting Issuer will be involved;
(ii) the history and nature of business previously conducted; and
(iii) a summary of any available significant financial information respecting the Significant Assets (with an indication as to whether such information is audited or unaudited and the currency of such information);
(c) a description of the terms of the proposed Qualifying Transaction including the amount of proposed consideration, including an indication of how the consideration is to be satisfied and the amounts to be paid by way of cash, securities, indebtedness or other means;
(d) identification of the location of the proposed Significant Assets, including, in the event that the Significant Assets are to be acquired by the acquisition of a Target Company, identification of the jurisdiction of incorporation or creation of the Target Company;
(e) the full names and jurisdictions of residence of each of the Vendors of the Significant Assets and, if any of the Vendors is a Company, the full name and jurisdiction of incorporation or creation of that Company, and the name and jurisdiction of residence of each of the individuals who directly or indirectly beneficially holds a controlling interest in or who otherwise controls or directs that Company;
AI
