If the price stays above $0.09-$0.095, there could be an opportunity for shareholders to arbitrage by selling their shares and convert their TM warrants into shares at $0.09 in order to receive the piggy-back warrants, which only expires in 3 years. Exercise price of the piggyback warrants is $0.12.
For the piggyback warrants to be listed, 100 shareholders have to exercise their TM warrants. From TM's point of view, investors exercising the warrants will be an important source of funds for its projects.
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