The Financial Post reports in its Thursday edition that a disagreement between Acasta Enterprises and a hedge-fund manager which owns shares escalated sharply on Wednesday, with the two sides trading barbs over a proposed debt-to-equity swap and other allegations. The Post's Geoff Zochodne writes that the spat first broke out into the open on Tuesday, when Anson Advisors Inc., an entity related to Anson Funds, issued a press release requesting the Toronto Stock Exchange require Acasta get "disinterested shareholder approval" for a proposed transaction involving the company's recently appointed co-chief executive officers. On Wednesday, Acasta fired back, defending the transaction and accusing Anson of presenting information that was "not factual" and "misleading." In its release, Acasta went further, alleging that Anson, "appears to have had access to confidential information about the Company which raises serious concerns for the Company as to whether Anson Funds traded in the Company's securities while in possession of material undisclosed information." Anson followed up with another release, saying Acasta's allegations were "untrue" and designed to deflect attention away from the proposed debt conversion.
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