Canagold Resources Ltd. (CRCUF)

[Gaintrader]

In a nutshell, it reduces future dilution by about 1.6%. Carnac currently has157.4M shares outstanding, plus just over 10M options and 40M warrants, or about 208M fully diluted. The more warrants and options that expire worthless and/or are cancelled, or are otherwise not exercised, the more retained value each of the already issued outstanding shares will continue to hold.