"if the news is so great then you would expect a surge in the SP and onyl then would you proceed with financing with way less dilution."

A surge in the SP would cause these warrants to be exercised anyways.  So, in reality, this is the course that brings the least dilution. Any share issue at this point is a negative for existing shareholders and a signal that the company is deperate for funding.  This move, and the timing of it (after CTAD), portend well. 

Jupe