Thanks Hogan jr, thanks Small Potatoe for speaking sense.

To succeed, Poet has to survive. To survive, Poet needs to raise more cash. So Mika does what has to be done right now. 

Obviously he sees this move as the best way to raise cash. I cannot disagree here. The extended runway is necessary because the warrant-holders have to agree to the amendment first. 

There is no reason to open the bubbly, but I´m OK with it. Poet makes the best of this situation. It is better to get (up to) 7,5 M CAD rather than nothing. Of course the share price must be notably above 4,25 CAD to collect the money so nothing is guaranteed.

Merry Christmas to you all and your loved ones!