This is a creative and pragmatic approach to raising cash. The restriking of warrants taps into a known base of investors that likely have the financial resources to act on this opportunity.  Investors know that the recent issue was undersubscribed. This is a way of topping up cash balances in a way that  is cost efficent and unsurprising.  Share prices could reasonably exceed this level as suggested by analysts reports and the CFO has positioned PTK to capitalize on that should that occur.