JJ - The warrants are not a problem at all if things work out the way we want. If we find that the warrants are very steeply discounted at the time we want to unload then we simply exercise and sell the stock. Of course now some will say I don't have the cash to exercise the number of warrants that I own so I'm stuck. That is not really a problem as your brokerage will be more than willing to lend you the money for the few days it would take to get the shares in exchange for the warrants and 2.05 per share cash, whether it is in a registered account or not. The only really big thing they are concerned about is having registered accounts go over a month end in a negative position. Just plan your trade close to the early part of the month. For cash and margin accounts it would be done in the blink of an eye. I believe in Canada we are in a T+2 clearing situation so to complete an exchange your a maximum of 6 days to cover both sides of the transaction if you dealing with a really slow broker.

The warrants are very thinly traded for good reason. There are only about 3.2 million (I posted the number the other day) of them still outstanding according to the financials and there is a lot of holders that have no intention of trading them. 

The warrant holders are really in the drivers seat if things work out the way we want. With between 5 and 30 times the coverage I don't see any concern from the brokerage side.

tada