Warrants outstanding and the 2020 share price slump.Remember when our SP dipped very low in 2020 (low of 24 cents) well in August that year, CRE had to to do a PP and has put out 10 million shares at 30 cents. They also gave a half warrant for each share.
These warrants expire on the 24th of August 2022 and can be exercised at 45 cents.
Looking at the MD&A report of April this year, there was still 3.3 million warrants outstanding from that 5 million lot.
I cannot say just how much is left at the moment, but for sure whatever is left will be a good deal for the holders.
It will also add some cash to our coffres.
There are another 15.4 million full warrants that have a 2023 deadline and these have an average exercise price of 2.17$ ( part at 1.75$ and the rest at 2.50$) so that has the potential of giving us an extra 33.4 million bucks in our piggy bank.
I am hoping that this exercise price will be just as much a bargain to the holders as the the one coming up in August this year.
Meaning that getting 1.40$ shares at 45 cents is the equivalent of getting shares 6.75$ shares next year for only 2.17$
I am not sure that I will wait till next year for the 6.75$ (or more) to sell part of my lot, but the comparison does seem probable to me.