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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Address: 1900 - 250 2nd St SW
Calgary AB T2P 0C1
Phone: 403 265 4800
Fax: 403 265 8216
Website:
https://www.parexresources.com/
Warrant Symbol - PXT.WT
Number Trading - 4,921,372
Expiration Date - December 6,
2009
Cusip - 69946Q 11 2
Exercise Price - $3.00
Warrants called to trade news:
Parex Resources to list on TSX-V
Nov. 12
2009-11-11 16:35 MT - New
Listing
Effective at the opening,
Thursday, Nov. 12, 2009, the
common shares and warrants of
Parex Resources Inc. will
commence trading on the TSX
Venture Exchange. The company is
classified as an oil and gas
exploration and development
company.
Pursuant to a plan of
arrangement involving Parex,
Pluspetrol Resources Corp. N.V.,
its wholly owned subsidiary,
1462627 Alberta Ltd., and Petro
Andina Resources Inc., a Toronto
Stock Exchange issuer, the
company acquired the Colombian,
and Trinidad and Tobago,
exploration assets formerly
owned by Petro Andina.
Pursuant to the arrangement,
Pluspetrol indirectly acquired
all of the outstanding Class A
shares of Petro Andina and each
holder of Petro Andina shares
ultimately received, for each
Petro Andina share held
$7.65 in cash;
One common share of Parex;
One-10th of one share purchase
warrant of Parex.
Each whole warrant of Parex
entitles the holder to purchase
one Parex share at a price of $3
per share until Dec. 6, 2009.
In connection with the
arrangement, the company
completed a brokered private
placement consisting of 6.67
million subscription receipts at
a price $3 per subscription
receipt for gross proceeds of
about $20-million. Each
subscription receipt was
subsequently converted into one
Parex share for no additional
consideration, upon satisfaction
of certain conditions, including
completion of the arrangement.
The underwriters for the
brokered private placement
constituted a syndicate of
investment dealers co-lead by
FirstEnergy Capital Corp. and
Scotia Capital Inc.
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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.
