a company's stock price often rises before the issuance of free warrants as investors speculate on potential future gains. This is sometimes called a "free warrant proposal," and it can create trading opportunities that lead to an increase in the stock's price and volume ahead of the announcement.

Reasons the share price might rise

Investor confidence: 

Proposals can signal that the company is financially sound and has a positive growth outlook, which can boost investor confidence and the share price.