No such thing as AnonymousWe have primarily 2 sellers for quite a long time: RBC and Anonymous.
RBC is likely McRae selling down his 8m share holding to raise cash to fund NovaVive.
But who is Anonymous? On Friday, they sold 2000 shares at 15:59:59 to close the stock at 30.5 cents, down from 31.0 cents just prior to close. This trade got them only $600. How desperate do you have to be as a big money guy to do that? It couldn't wait until Monday?
Mr. Olds can find out if McRae is selling because McRae's shares were registered in his own name or Renaissance Trust. Mr. Olds has access to the company's share registry. When the 8m shares are gone, then the selling pressure will subside.
Mr. Olds can pay a fee to the TSX to find out what house Anonymous is. If Anonymous is one of the potential partners bidding under a confidentiality agreement, then TST has recourse if it discovers malicious trading by parties possessing confidential information, which makes them an insider. I used to think Anonymous was just a holder of 23 cent units, selling their shares at a profit and holding the 5 year warrants for zero cost. But Friday's closing trade caused me to change my mind. Something else is going on.