When a placement is done... see last news release, these shares are alocated to be sold to investors directly through the company.

Investors pay for them at the subscription price.... They are usually not tradable for 4 months.... thus an investor is given a sweetener.... a wt or 1/2 wt allowing the investor to purchase an additional share for the exercise price.... This must be done within the time frame of the wt..... One more detail is that the wts themselves cannot be exercised untill the hold period is up..... Thus the wts exposure time is further reduced.

This is how the company gets the funds to continue exploring and pay the wages of all involved in day to day operations.....Without investors willing to take this risk, there would be no Jr exploration companies in Canada.