RE:Love these warrants started buying at 7 cents 5 years is Exactly Galaxym31. All this talk about which is a better deal...warrants or common is a completely moot point. I picked up 200,000 warrants to increase my overall exposure by 50% and it only cost me on average about 0.08 for the warrants. The beauty about the warrants (for Canadians at least) is that they can be converted to the common and any (potential) liquidity inefficiencies with the warrants are totally irrelevant.
People that seized the opportunity to buy the free trading warrants when they were cheap (and available in quantity) were able to significantly increase their overall exposure at little cost. The outcome here is really a binary one. Either Theralase fails/doesn't succeed in its Phase 2 trial (very low probability of that happening) or Theralase succeeds in its Phase 2 trial/or just does better than the competition (very high probability of this happening).