AVZ chart, page-140

Technically dilution was done at the time of the acquisition and approved at the time of the general meeting. These shares have always been known. Liquidity and selling might increase with issuance of the new shares but it is not new dilution.

The stock went to above 4c when everyone knew these shares were coming. Why should it drop just because they are officially issued? It should be pretty obvious to all, that those getting shares in the second tranche of the placement probably already owned a bunch of shares before they receive the new ones. They have had plenty of time to sell before now and some of that at higher prices.