Stockwatch posted the SEDAR Preliminary Short Form Prospectus on the financing yesterday at 16:37.

I am sure the Europeans were able to read the info and trade accordingly.

No, it's not that simple, since the conspicuous activity in Germany started several days ago, as pointed out.

Also, it is not sufficient to read the info and sell your shares, because the question remains who would buy them all in Germany. The market maker usually would not. So I thought you'd need a previous agreement between a seller and some buyer about passing on hundreds of thousands of shares. It's a conspiracy theory, yes, but it explains the abnormally small spreads during these times.