Warrants (half warrants) good until Dec. 21, 2018"each Unit will consist of one common share in the capital of the Company (each a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $2.80 at any time on or before December 31, 2018."
Half warrants that expire in 14 months is actually very good terms for the company. Novo Resources just did a big placement with Full warrants that expire in 3 years. If EXN is worth less than $3.00 or so in a year the warrants will expire worthless.
Not sure why so much whining. A fully financed drilling program will bring much more attention to the company than mining out the reserves and slowly drilling as money comes in. The increase to $13.25 million shows there is lots of demand for the stock which is a big positive.