If the offering closes January 15th this would be less than 30 business days from today.  A successful closing should result in a higher share price and in effect avoid the deficiency notice. In the meantime it makes sense for those still believing in the future of this company to sell shares on the open market to take part in the offering which in conjunction with tax loss selling artificially and temporarily suppresses the share price. To avoid the 30 day rule I'm guessing that shares/warrants from the offering could be deposited in a TFSA, RRSP, or self directed RRIF.