Montana was not a backdoor listing - it was part of CIL and when all the other assets of CIL were sold off, CIL was renamed Montana.
https://www.nzx.com/files/assets/rev...dance_note.pdf
"Compliance listings are similar to reverse and backdoor listings, in
that the listing is usually completed without the need to complete
disclosure documents under the Securities Act."
To me Compliance listing is worse than backdoor listing - appearance of decency but same smelly unwashed undies.