hummm,,,in respect to the TFSA,,not sure why anyone would want to exercise the warrants when they trade under bid/ask. Unless the gap is too far apart on the floor but if you had to, you would probably need the strike net worth in the TFSA account in cash to exercise. Plus I do know when I have exercised it costs an extra chunck of change to do so which the banksters take. So my warrant positions will be sold and not exercised. I will leave any exercising up to the new owners of the warrants to do so after they are sold by me,,,,,,,,,,,just an opinion.