Ok- so for the throughly uninitiated, say the SP is $1.50 prior...

Ok- so for the throughly uninitiated, say the SP is $1.50 prior to the expiry date, a person holding 1 free loyalty option share allocation can take up option by paying the price, using the example above, of $1.25, then sell that share on the open market for $1.50, thereby profiting by 25cents?
Forgive my ignorance in this, I have never had such a thing happen before.
If someone else explained it earlier in the thread I thank you and beg pard' for not going back through and finding it.
If it is as my novice understanding sees it, I really must say that I think it's a great way to raise capital as it shows confidence in the stock while equally as important, it shows gratitude from the company for holders while not throwing discounted shares at brokers etc which I think is almost a slap in the face to holders and always seems to create its own gravity that drags the SP down to the discounted price.
We pay full price when we buy, so I'm very impressed to know that any newcomers will have to do the same.
Two thumbs up from me, well done to our management team.