I think it's because of the dilution. Someone needs to sell about 23 million shares. The warrants too. I think the pain is gonna last until the new shares are gobbled up. Soooo we might have a long wait.
"the Company issued an aggregate of 23,000,000 units of the Company (the "Units") at a price of C$5.00 per Unit for gross proceeds to the Company of C$115,000,000.00 (the "Offering"), which includes 3,000,000 Units issued with the full exercise of the over-allotment option granted to the Underwriters (as defined below)."