CBIP Warrant. Whether to sell or hold

Hi KCLau,
Thank you for the April session 2 training regarding ekowest warrant.
I am now holding CBIP FREE warrant issued on 7/11/15 with 5 year maturity in 6/11/19. Basing from what I learn from the training, it is not worthwhile to continue holding CBIP warrant. Below is the details and the reason why it’s better for me to sell the warrant now.
Present Stock Pr : 2.07
Warrant Pr ; 0.37
Excercice Ratio : 1.1
Excercice Pr : 2.40
Warrants Issue : 88,409,815
CBIP issues : 538,409,815
Settlement : Shares
Questions;
1 Do you think it is wiser for me to sell the warrant now because it cost more of 2.77 (2.40 + 0.37) than the mother share. Note I did not consider the implied discount rate and the drop in intrinsic value after the warrant are excercised.
2. Correct me if I am wrong, I do not understand why do traders purchase such warrants at a such a premium cost. They must have a reason for this purchase. e.g. Do fund manager purchase warrant to become a major shareholder?
Request.
1. Can you send me the spreadsheet for the above spreadsheet.