At the end of the day, if it's a raise for insiders near an acquisition ann, there's two outcomes. It will either pump and dump or be of substance. Either way, share price will go up, even if it's momentarily.
It's up to you to either profit from this event or sit out due to your ethics. I agree with your sentiment wholeheartedly but this is very common in the small end of the market.
I will await for CR details but from what I'm hearing, it sounds very lucrative. EV keeps getting cheaper and cheaper.
PM1 Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held