What is happening to the Noront Board of Directors?

Noront canceled their $50 million dollar credit account. Then all of the sudden needs to have a PP and it is limited to two provinces and then it needs to be expanded for all the other provinces. The original goal was for $3 to $5.5 million dollars; but instead they raise $6+ million. Also, quietly they start another PP to raise an extra $1+ million dollars and for what reason? The Noront board of director’s are acting completely out of character, what is going on?

RCF

The original loan payment was to mature December 2016, then it was changed to June 2016 and now it is March 2017. No one is acting correctly here, so what is up?

Food for thought

My only thought is the late Paul Semple the COO of Noront, under his direction things like this did not happen and why is it the whole board of directors cannot get their heads together and act in a professional business manor?