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narmac, I did the same when RVX.WT (share purchase warrants) were at the trough for CAN 80 cents. I exchanged the same number of RVX with RVX.WT and dry powered the residual.
The best leverage play right now is to sell off RVX.WT ($2.20) and buy RVX.WT.A ($0.90), a gain of 2.5 for 1.0 trade. And in this way, you extend warrants till 2023.
