It’s down because..Anyone who participated in the bought deal just got delivery of their stock the last couple of days. The stock has been impossible to borrow for weeks. Any trader who did this deal can sell their 2.50 stock and keep free 3.25 warrants. In this risk off environment it’s the smart play for them.
That being said the fact that it’s hanging in is impressive. Big American buyers are eating up the scaredy cat shares for sale by Cannacord, Haywood and TD.