That seems to be the entire thrust of this financing. 

Instead of raising capital by selling fresh equity, they decided to simply fast forward the warrants.  Same number of shares to be issued as they would have, in the long run.  But takes care of the immediate bills to be paid.

My only concern is that the Third Eye types may not care about holding on till the company is sold.  Any share price above $1.33 may be taken as a chance to offload "risk".  Ditto for Bloom Burton etc.