Are there any indications of insider activity or unusual trading volume during the cease trade order period?

No direct evidence of insider‑related activity or abnormal trading volume is disclosed in the release.

The company’s announcement is purely regulatory – it informs the market that a Management Cease‑Trade Order (MCTO) was imposed on 30 July 2025 under Nova Scotia’s National Policy 12‑203. An MCTO automatically bars insiders (directors, officers and anyone acting on their behalf) from buying or selling the security for the duration of the order. Consequently, any “insider”‑driven price movement is effectively prohibited, and the market typically sees a compression in overall trading volume as the pool of active participants is reduced.

Because the news item does not mention any breaches, spikes, or “unusual” volume patterns, we must assume that the order has been respected so far. However, history shows that when a cease‑trade order is lifted (or if a filing delay is finally resolved), latent demand can surface as a sudden uptick in volume and price volatility. Traders should therefore:

1. Monitor the daily volume and price action for any unexplained spikes that could signal a breach of the MCTO or a pre‑emptive positioning by parties with privileged information.
   
2. Stay on the sidelines until the company’s delayed annual filings are released and the cease‑trade order is formally lifted, as the market will likely price‑discover the missing financial information at that point.
   

In short, while the press release itself does not reveal insider activity or abnormal trading, the very nature of an MCTO suggests a muted trading environment during the order’s life. Keep a close watch on volume and price dynamics around the anticipated filing date and the eventual termination of the cease‑trade order for any early signals of market repositioning.