"...warrants can be a whole bunch of hassle..."

Not sure why that would be. Warrants trade just like shares. I've never exercised warrants, preferring simply to sell them before that. But even if you wanted to exercicse a warrant, all that is needed is a call to the broker, as far as I know.

"...The $.70 ECU placement is a joke in terms of undervalue..."

Yes, it seems like a low-ball price for the share/warrant, compared to the $0.78 close just prior to the announcement. But new issues sort of have to be priced attractively so that they sell out reasonably quickly. Most new issues (for common shares) seem to sell out by the time the market opens next morning.

BTW, Waterhouse still shows the issue as open. So perhaps they didn't price it low enough.