I think what you stated is the most likely reason.
The only other reason is there was a shortfall in the CR and more funds required, or another raise required for second facility in US.
Edit: was replying to Lynetteg
Ann: Trading Halt, page-12
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Change
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Mkt cap ! $85.29M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 22.0¢ | $536.8K | 2.384M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 256241 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 2188 | 1 |
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