Sona Resources Corporation SREZF

RE: SYS Warrants

[garpike]

I have a partial list of Canadian warrants in front of me and see 21 different warrants that expire in 2004 and only 3 that expire in 2008. There are few warrants that have such a long life. Normally long-term warrants command a significant premium over the net value of the warrant. Length of life is one of the factors that tends to affect the value of a warrant; other things being equal, the longer the life, the higher the premium. I guess that the size of the float combined with other factors explain why SYS wts had effectively no premium in recent trading. At times it is theoretically almost possible to buy the warrants, sell the stock, exercise the warrants, and make money.You don't see that very often.