Gwr1 and 9921 - please check out the info I provided earlier on the early exercise of PDL.TO and I now also recall that Silver Weathon also did the same thing a few years back on one of their warrant series that I use to own. At least in that case they sweatened the term of the deal to make it less painfull to the owners to pay for their shares. So yes the companies can and do, in some cases anyway, decide to call the warrants at an earlier date. Anybody had similar experiences in the past?