Another interesting thing is that the terms of the warrant apparently did not include an acceleration provision. Such a provision might have shortened the life of the warrant to thirty days after the stock maintained a price above, say, $2.75 Canadian.

Perhaps there was a reason that type of provision, which is pretty typical, was not included. Just maybe management felt the price would get above the trigger level soon, and the participants were afraid they wouldn't have sufficient cash that soon so as to be able to exercise the warrant without borrowing.   

You see, all my thoughts are not negative! LOL