THE INVESTOR'S GUIDE TO WARRANTS:
Capitalize on the Fastest Growing Sector of the
Stock Market, Second Edition (Hardcover)
by Andrew McHattie Rating: ISBN-10: 027303751X
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Warrant Symbol - EQX.WT
Number Trading - 1,383,770
Expiration Date -
Cusip - 29443T 11 8
Warrants called to trade news:
1994-03-11 16:22 MT -
Amalgamation
See New Listing (C-HL) Hecla Mining
Company
Hecla Mining Company, Equinox
Resources Ltd, BPYA 1193 Holdings
Ltd (Subco I) and 1057451 Ontario
Limited (Subco II) have entered into
an arrangement which provides that
Equinox and Subco II will amalgamate
and continue as one company having
the name Equinox Resources Inc (New
Equinox). The ultimate effect of the
arrangement is that New Equinox
becomes a wholly owned subsidiary of
Subco I which is a wholly owned
subsidiary of Hecla Mining Company.
As a consequence of the arrangement:
1.. Holders of common shares of
Equinox are entitled to 0.30 common
shares of Hecla Mining for each
Equinox common share held.
2.. Holders of series A, class A
production participating preferred
shares of Equinox are entitled to
receive unsecured subordinated notes
of Hecla in the principal amount of
$1.50 for each Equinox preferred
share held.
3.. Holders of warrants of Equinox
will be entitled to purchase 0.3
Hecla common shares for each Equinox
warrant at $3.40 per 0.3 shares of
Hecla up to August 31 1996.
Effective at the opening March 14
1994 the Hecla warrants and the
Hecla production notes will be
called for trading on the VSE and
the common shares, share purchase
warrants and class A series A
production participating preferred
shares of Equinox will be delisted.
HECLA WARRANTS
Capitalization: 1,383,770 warrants
of which 1,383,770 are outstanding
Symbol: HL.WT
Security No: 893681
Cusip No: 422704 12 2
Transfer agent: Montreal Trust
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- Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
- Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
- Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
- Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
- Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.
