Thats a short covering by the investment co to hedge its bets once the stock move up in price.
Technically the OSC should make it mandatory for such companies to disclose their short positions
Sona Nanotech Arranges Private Placement Financing and Appoints EU Agent for Application for CE Mark
Halifax, Nova Scotia--(Newsfile Corp. - December 3, 2020) - Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company", "Sona") a developer of rapid, point-of-care diagnostic tests, is pleased to announce that it plans to raise up to $2,000,000 through a non-brokered private placement (the "Financing") of up to 2,000,000 units of Sona (each, a "Unit") at $1.00 per Unit. Each Unit will consist of one common share of Sona (a "Common Share") and one-half of a Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will be exercisable to purchase one additional Common Share of Sona at a price of $1.25 per Common Share for a period of 24 months from the closing date of the Financing (the "Closing Date").