jonzobot – I have looked at this a little closer and think I might have found an answer for you as well as clearing up my own post better. You are correct on the dates of filing due 90 days after fiscal year-end of April 30th. That would be July 29th plus a 45 day extension to fit RVX’s September 11th as shown in the news release and copied below. Where it gets foggy is what are the actual blackout dates. I think to know this, one would have to try get it from RVX as it is their blackout policy. This isn’t a regulator imposed blackout rather an RVX policy to avoid legal issues and has been developed using NP 11-207 principles. The blackout information below is not RVX’s rather another company’s that I found as an example and I would guess that RVX’s is somewhat similar as based on the same principles. Note the bold sections (bolding added by me) refer to annual filings and an exception that might explain how RVX options could be exercised while under blackout should the Board feel there is no material non-public information. Note that in the second paragraph of the RVX news release below, RVX stresses this point.

From RVX news release

Resverlogix expects to rely on the exemption to file the Annual Filings on or before September 11, 2020, and notes that management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207.

Resverlogix confirms there have been no undisclosed material business developments since the filing on March 13, 2020 of the Company’s condensed interim consolidated financial statements and associated management's discussion and analysis for the nine-month period ended January 31, 2020 that have not been otherwise disclosed by Resverlogix by way of news release.

5.0 BLACKOUT PERIODS

The Company reserves the right to restrict trading by directors, officers, employees and agents in securities of the Company. Such restriction is generally referred to as a "Blackout Period" and is in place when there is, or is potential for, a significant event pending or there is information available but not yet disclosed.

The "Blackout Period" is:

(a) for quarterly financial results, the period beginning at the end of the trading day that is two (2) weeks prior to the end of the quarter and ending at the end of the first full trading day after the financial results are publicly disclosed. This Blackout Period applies to all directors, officers, finance and accounting staff and corporate communications staff directly involved in the dissemination of the financial results;

(b) for annual financial results, the period beginning at the end of the trading day that is two (2) weeks prior to the end of the fiscal year and ending at the end of the first full trading day after the annual financial results are publicly disclosed. This Blackout Period applies to all directors, officers, finance and accounting staff, corporate communications staff directly involved, and other Company's employees as determined by senior management;

(c) for news releases containing material information, other than financial results, the period beginning at the end of the trading day that is one (1) week prior to the end of one full trading day immediately following the time of the announcement. This Blackout Period applies to all directors and officers and other employees as determined by senior management; or

(d) any other time and for any length of time as deemed necessary by the Company's Disclosure Committee.

Where Company Personnel wishes to trade during the periods referenced in (a) or (b), above, he or she must seek the prior approval of the Board. If the Board is satisfied, in its sole discretion, that such trade would not constitute a trade while in possession of material non-public information (if, e.g., the financial information not yet disclosed is limited to previously disclosed ordinary course expenses), then the Board may grant an exemption in respect of such trade. 

All efforts will be made to advise of Blackout Periods as soon as possible; however, it is your responsibility to ensure that you are not in violation of the prohibition against trading during a Blackout Period by pre-clearing transactions with a member of the Board in accordance with this Policy.