No. 1 share of FNNWF gives you the right to purchase 1 share of FNV for $75/share at expiration: June 2017.
so if you want to buy 100 shares of FNV right now, it will cost you about $4500. for that same amount of money, you can get about 700 shares of the FNNWF warrants. if FNV goes to $100 before 2017, your 100 shares are worth 10,000. in the same scenario, the FNNWF shares would be worth ($100-$75)x700 = 17,500.
My longterm target on FNV is $200/share, if my longterm target of gold is hit ($3000-$4000). that will put each warrant at $125/share.