The way I'm looking at my warrants is like this....

Its a big if obviously, but "if" RVX reaches say $10.25 per share....I can then sell shares and use the proceeds to convert my warrants at a ratio of 1 to 5. 

If RVX does manage to attain a PPS of $10.25 CDN and I wanted to convert 10,000 warrants into shares I could sell just 2,000 shares which would result in $20,500 less fees.  I could then use the proceeds to turn 2,000 shares into 10,000 shares.   Obviously there are brokerage costs on top of that...but I'm sure everyone gets the idea.

I'm intending to simply sell the warrants, but if the discount would result in a loss of too much money...then I would look at conversion. 

However its all a moot (not mute) point at this juncture....if/when RVX is trading around that $10 figure I'll look at it more closely....or at least up around $8+