HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Puppin,

They were entitled to 1/2 a warrant per share.

As per news release in Feb. 7,2008 "Each unit was priced at $4.00 and consists of one common share and one-half of one common share purchase warrant."

I think this is where you misunderstand. They weren't entitled to a full warrant.

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