Yesterday`s high trading activitySome Northair insider sales activity showed up on yesterday`s ``
Insider Trade Summaries - TSX Venture Exchange`` report. Although Pinetree is no longer an insider, it`s possible that this is still Pinetree. It seems like sometimes the insider peg is still attached (even after ceasing to be an insider) where this report still picks up the activity as insider (when it is officially no longer an insider activity). I have seen this happen before.
Here is the report (with 1,445,000 Northair sales):
https://www.tmxmoney.com/HttpController?GetPage=InsiderTradeMarker&Market=V&Language=en
Of note, nothing has been filed in the SEDI insider detailed report as yet. We can check SEDI over the next 10 days. If nothing gets filed on SEDI over the next 10 days then it means that the 1,445,000 sales activity yesterday was not done by a current official insiders of the company.
Also of note, the selling yesterday was done via ``anonymous`` and ``Haywood`` - same selling labels as past Pinetree/Inwentash sales.
It is also interesting to note that Pinetree issued an NR this morning stating that they are working towards paying down some debt in the future. Thus, they are probably in the middle of another cash raising initiative. Here is the NR:
https://www.marketwired.com/press-release/pinetree-capital-announces-further-10-million-partial-redemption-convertible-debentures-tsx-pnp-2015004.htm
As a side note, it seems like a bit of volume was suddenly put into the BID side yesterday to absorb some of the sales activity. This may suggest that Northair might have known about the sellers intentions in advance and somehow was (finally) able to arrange for a few new buyers to step in to cushion the blow (a little bit anyway).