Just note, the CN holders were issued shares at 0.2 cents on 3 Feb, when the share price was around 1.2 cents. There was very little downward pressure (it got as low as 1.0 cent briefly the next day). Presumedly they were sellers the last few days after the price had moved appreciably higher - ie they didn't dump until it was a Disallowed for them.
By contrast the placement shares were issued at 0.8 cents. Its only double that price, I'm sure most will hold for longer.
HUGE UPSIDE IN 2021 & BEYOND, page-456
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