Generally a blackout is in place until a PP closes, but have seen a number of times where that is not the case.

LXV is one example, PP announced at .35 and the stock ran to .90 plus in a week and a half and they still closed it at .35. Granted no news was released until the PP closed, but it didn't prevent the market from having a field day and the TSXV still approved the PP

Also, it could be argued MS5 is not material as it is an internal development target. They could throw us a bone with that one.