$0.70 per unit, consisting of a share and a warrant. The warrant will buy a share for $0.95, and is good for five years!

This looks like a good deal on the surface with that five year warrant thrown in.

From TD Waterhouse website...

Each Subscription Receipt will entitle the holder thereof to receive, at the Escrow Release Time, for no additional consideration and subject to adjustment, one common share of the Company and one common share purchase warrant. Each Warrant shall entitle the holder thereof to acquire one additional common share of the Company at a price of $0.95 per Warrant Share at any time until the date that is five years after the date of the Closing. Each Subscription Receipt will automatically convert into the Underlying Securities at the Escrow Release Time, subject to the Company satisfying the Escrow Release Conditions prior to the Final Escrow Deadline (March 30, 2009). A Subscription Receipt will only convert into Underlying Securities pursuant to the foregoing automatic conversion mechanism and will not be convertible upon any act by the holder.

In the event that the Escrow Release Time has not occurred by March 30, 2009 (the “Final Escrow Deadline”), the Escrowed Funds, plus any accrued interest earned thereon, shall be returned pro rata to each holder of Subscription Receipts in exchange for that number of Subscription Receipts held by such holder.