That is my point,Abe. I would rather see a private placement at a lower level with no warrants than have warrants attached to a financing that create a ceiling that is hard to penetrate on the share price.
Worse yet, when warrants are attached to the financing, often the placees do not even really want the shares. They only want to dump the shares at cost 4 months later,believing that if the company becomes the next Hemlo they will have risk free upside.
I'm not onto this one deep anough to really give a hoot yet. I'll study some more, and compare opportunities.
I'll bet that there are a lot of undeclared short positions being covered with this placement. Why do you think it dropped so low, LOL?