Confused by your last post. Premium does not exercise the warrants within 18 months of July 2, it is the purchaser of the PP that can exercise the warrants if they feel the need at .35 which will be a no brainer for those in the PP. The 4 month hold on shares is for the original shares of the PP which must be held for a 4 month period before they can be sold. Warrants can be purchased any time but the only thing I am not sure of is whether they also have a 4 month holding period after their purchase, I would think so but not sure.

"Each Unit consists of one common share and one-half of a common share purchase warrant, each whole warrant entitling the holder to acquire an additional common share at a price of $0.35 per share for an eighteen month period following closing. The securities issued are subject to a four-month hold period from the date of issuance and to final acceptance from the TSX Venture Exchange (the “Exchange”).