If I were them I would do two things... First one is part of the news than release the other half the next few days. Keep the momentum going. A lot of people investing in penny stocks have to wait 3 days for funds to settle. So on that 3rd day they usually sell once the momentum is gone and they move on..
Second any news I get I release it mid day. Don't give hedge funds a 2 hour notice pre market and determine how they want to play it.