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THE INVESTOR'S GUIDE TO WARRANTS:

Capitalize on the Fastest Growing Sector of the Stock Market, Second Edition (Hardcover)
by Andrew McHattie   Rating: ISBN-10: 027303751X










You are welcome to use any of the information on the Canadian Warrants pages but please note it is copywritten.  Copying and re-posting as your own or copying full pages will not be tolerated. Visiting IP addresses and originating domains are tracked. No one pays for the work put into compiling this information except myself and those generous people who help support the site by using the PayPal button below! If it is helpful to you, credit would be appreciated! Every effort has been made, but there are no guarantees as to accuracy. If you see an error please us as corrections are appreciated.

  xone x 1 entertainment group inc 983787 10 2 ca9837871024
  xone x 1 entertainment group inc 1:5 983787 20 1 ca9837872014
  xcl x -cal resources limited j 98370r 10 6  
  xib.p x i b i capital corp 98372x 10 1 ca98372x1015
    x l i technologies inc 98375j 10 9 us98375j1097
    x l r medical corp 983756 20 6 us9837562068
  xme x met inc 98376p 10 4 ca98376p1045
  xme.h x met inc 98376p 10 4 ca98376p1045
  xor x -ore resources inc 983792 10 2  
  dap x pel inc 98379l 10 0 us98379l1008
  vrar x r immersive tech inc 98383l 20 3 ca98383l2030
  vrai x r immersive tech inc 1:6 98383l 20 3 ca98383l2030
  xrm x r m global inc 983834 10 2  
  xrm.p x r m global inc 983834 10 2  
  xsc.un x s cargo income fund 98386c 10 1  
  xsf x s financial inc 983861 10 5 ca9838611056
    x sunx inc 98385l 10 2 us98385l1026
  xtr x t c resources limited 93886h 10 0  
  dxm x t f morningstar canada div. target 30 index etf 98387g 10 1  
  dxm.a x t f morningstar canada div. target 30 index etf 98387g 11 9  
  wxm x t f morningstar canada momentum index etf 98387j 10 5  
  wxm.a x t f morningstar canada momentum index etf 98387j 11 3  
  fxm x t f morningstar canada value index etf 98387k 10 2  
  fxm.a x t f morningstar canada value index etf 98387k 11 0  
  qxm x t f morningstar national bank quebec index etf 98387m 10 8 ca31862a1093
  qxm.a x t f morningstar national bank quebec index etf 98387m 11 6 ca98387m1169
  paid x t m inc 98388t 10 2 ca98388t1021
  xt x -terra resources corp 98386y 10 3 ca98386y1034
  xone x1 esportsand entertainment limited 98423m 10 4 ca98423m1041
    xa inc 983674 10 2 us9836741028
  xgc xali gold corp 98387f  10 3  
  xam xanadu mines limited q9864p 10 2 au000000xam0
  xnd xander resources inc 983879 10 7 ca9838791072
  xnd xander resources inc 983879 30 5 ca9838793052
  xnd xander resources inc 1:10 983879 20 6 ca9838792062
  ggb xanthic biopharma inc  98401b 20 3 ca98401b2030
  xtx xantrex tech inc 98389a 10 2 ca98400h1029
  gig xau resources inc 98401g 10 3  
  gig.p xau resources inc 98401g 10 3  
    xavier corp 983941 10 5 us9839411058
    xcana petroleum corp 98400f 10 6 us98400f1066
  xmc xceed mortgage corp 98389u 10 8  
  xcc xcel consolidated limited 98400a 10 7  
    xcelarator marketing inc 98389d 10 6 ca98389d1069
    xcelmobility inc 98400l 10 3 us98400l1035
    xcelplus international inc 98389v 10 6 us98389v1061
  xel xcite energy limited g9828a 11 9  
  xri xcite resources inc 98401l 10 2 ca98401l1022
    xcorporeal inc 98400p 10 4 us98400p1049
  xcyt xcyte digital corp 983989 10 4  



  xbc xebecadsorption inc 983891 10 2 ca9838911027
  xbc.r xebecadsorption inc subscription receipt 983891 16 9  
  xbc.wt xebecadsorption inc warrants 983891 15 1  
  xbra xebra brands ltd 98402e 20 6 ca98402e2069
  xbra xebra brands ltd 98402e 30 5 ca98402e3059
    xedar corp 984002 20 4 us9840022043
    xemex group inc 98401c 10 2 us98401c1027
  xe xemplar energy corp 984007 10 4  
  xe xemplar energy corp 984007 20 3  
  xe.h xemplar energy corp 984007 20 3  
    xenetic biosciences inc 984015 10 7 us9840151073
  xm.h xenex minerals limited g98251 10 4  
    xenith bankshares inc 98410x 10 5 us98410x1054
    xeno transplants corp 98410n 10 7 us98410n1072
    xenon pharmaceuticals inc 98420n 10 5 ca98420n1050
    xenonics holdings inc 984117 10 1 us9841171013
    xenoport inc 98411c 10 0 us98411c1009
  xns xenos group inc 98411e 10 6  
  xdm xentel dm inc 98411n 10 6  
    xetel corp 983942 10 3 us9839421032
    xfuels inc 98421a 10 2 us98421a1025
  xgn.h xgen ventures inc 98417a 10 8 ca98417a1084
  xia xiana mining inc 98420d 10 7 ca98420d1078
  xia.h xiana mining inc 98420d 10 7 ca98420d1078
  xds xianburg data systems canada corp 98418t 10 6 ca98418t1066
  xds.h xianburg data systems canada corp 98418t 10 6 ca98418t1066
  xigm xigem technologies corp 98422w 10 3 ca98422w1032
    xiiva holdings inc 98415q 10 5 ca98415q1054
  xlx xillix tech 983925 10 8  
  xim ximen mining corp 98420b 10 1 ca98420b1013
  xim ximen mining corp 98420b 20 0 ca98420b2003
  xim ximen mining corp 1:5 98420b 30 9 ca98420b3092
  xrg xinergy limited 98417u 10 4  
  xrg.wt xinergy limited warrants 98417u 11 2  
    xinhua china ltd 98416y 10 7 us98416y1073
    xinyinhai technology ltd 98417n 10 0 us98417n1000
    xl group plc   ie00b5lrll25
  xlm xl-id solutions inc 98420f 10 2  
  xrx xortx therapeutics inc 98420q 10 8 ca98420q1081
  xrtx xortx therapeutics inc com 1:9 98420q 30 6 ca98420q3061
  xrtx xortx therapeutics inc com new 98420q 20 7 ca98420q2071
  dap.u xpel technologies corp u98409 10 2 usu984091020
  xpel.u xpel technologies corp u98409 10 2 usu984091020
  xphy xphyto therapeutics corp 98421r 10 5 ca98421r1055
  xplr xplore resources corp 98421g 10 9 ca98421g1090
  xplr xplore resources corp 1:2.5 98421g 20 8 ca98421g2080
  xpl xplore tech j 983950 20 5  
  xra xrapplied technologies inc 98422k 10 9 ca98422k1093
  fal.pr.a xstrata canada corp cumulative preferred shares series 2 984166 30 6  
  fal.pr.b xstrata canada corp cumulative preferred shares series 3 984166 40 5  



  fal.pr.h xstrata canada corp cumulative preferred shares series h 984166 20 7  
  fal.pr.h xstrata canada corp series h preferred 984173 20 3  
  fal.pr.a xstrata canada cumulative preferred shares series 2 984173 30 2  
  fal.pr.b xstrata canada cumulative preferred shares series 3 984173 40 1  
  xtcy xtacy therapeutics corp 98423g 10 7 ca98423g1072
  xmt.h x-tal minerals corp 983969 10 6  
  xtao.u xtao inc g9t27m 10 3  
    xtera communications inc 98415e 30 0 us98415e3009
  xtt x-terra resources inc 98387w 10 6 ca98387w1068
  xtt x-terra resources inc 98387w 20 5 ca98387w2058
  xag xtierra inc 98417q 10 3 ca98417q1037
    xtra energy corp 98419d 10 0 us98419d1000
  xtra xtract one technologies inc 98422q 10 6 ca98422q1063
  xs xtraction services holdings corp 98422m 30 3 ca98422m3030
  xtg xtra-gold resources corp 984136 10 1  
  xtg xtra-gold resources corp g9829r 10 3 vgg9829r1038
  xdc xtreme coil drilling corp 98417d 10 2  
  xdc xtreme drillingand coil services corp 98419v 10 0 ca98419v1004
    xtreme motorsports internati 98418c 10 3 us98418c1036
    xueda education gr sp/adr 98418w 10 9 us98418w1099
    xun energy inc 98418u 10 3 us98418u1034
    xura inc 98420v 10 7 us98420v1070
  xxix xxix metal corp 901320 10 1  
  xl xxl energy corp 98418b 10 5 ca98418b1058
    xxstream entertainment inc 98416t 10 8 us98416t1088
  xybn xybion digital inc  98423t 10 9  
  xyl xylitol canada inc 98419a 10 6  
  xyl xylitol canada inc 98419a 40 3  
    xynergy holdings inc 984154 20 3 us9841542031
  xyq.wt.b xyquest venture corp 983928 11 0  
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         



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Warrant Terms
  • Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
  • Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
  • Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
  • Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
  • Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.
  • What Exactly is a Canadian Stock Warrant:
    In Canada, a warrant is a security issued directly by a corporation (not by other traders like options) that gives you the right to buy their stock at a fixed price (the strike) for a set period (usually 2 to 5 years).Key Terms You’ll See on the TSX/TSXV:The Strike Price: The price you pay to "exercise" the warrant.The Expiry Date: The "drop-dead" date. In Canada, these are often longer than US-listed options, giving you years for your thesis to play out.The Acceleration Clause: A uniquely Canadian feature. If the company’s stock stays above a certain price for a set number of days, they can force you to exercise your warrants early.
  • Visualizing the Lifecycle: Visualizing the Lifecycle Unlike a stock that you can hold "forever," a warrant has a clear beginning, middle, and end.Issuance: Usually bundled into a "Unit" (1 Share + 1/2 Warrant) during a private placement or IPO.Separation: After a short period, the warrants "detach" and begin trading under their own symbol.The Exercise Window: Your opportunity to profit.Expiration: If the stock is below the strike price on this day, the warrant becomes worthless.
  • How to Read Canadian Warrant Symbols: If you are looking for these on your brokerage platform you need to know the suffixes. Exchange Suffix Example: Toronto Stock Exchange SHOP.WT.TO, TSX Venture VABC.WT.VN, Canadian Securities Exchange GROW.WT.CN. Pro Tip: If a company has multiple warrants, they are lettered (e.g., ABC.WT.A, ABC.WT.B). Always check the specific terms for the letter you are buying!"
  • The Math: Intrinsic vs. Time Value: Why does a warrant cost $2.00 when the stock is only $1.00 above the strike price?Intrinsic Value: The immediate "cash" value. (Stock Price - Strike Price). Time Value: The "hope" value. You are paying for the potential growth over the next few years. As the expiry date gets closer, this value disappears (a process called Time Decay).
  • Tax Considerations for Canadians: Warrants behave differently than stocks in the eyes of the CRA:Capital Gains: If you buy a warrant for
    • Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
    • Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
    • Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
    • Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
    • Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.
    • What Exactly is a Canadian Stock Warrant:
      In Canada, a warrant is a security issued directly by a corporation (not by other traders like options) that gives you the right to buy their stock at a fixed price (the strike) for a set period (usually 2 to 5 years).Key Terms You’ll See on the TSX/TSXV:The Strike Price: The price you pay to "exercise" the warrant.The Expiry Date: The "drop-dead" date. In Canada, these are often longer than US-listed options, giving you years for your thesis to play out.The Acceleration Clause: A uniquely Canadian feature. If the company’s stock stays above a certain price for a set number of days, they can force you to exercise your warrants early.
    • Visualizing the Lifecycle: Visualizing the Lifecycle Unlike a stock that you can hold "forever," a warrant has a clear beginning, middle, and end.Issuance: Usually bundled into a "Unit" (1 Share + 1/2 Warrant) during a private placement or IPO.Separation: After a short period, the warrants "detach" and begin trading under their own symbol.The Exercise Window: Your opportunity to profit.Expiration: If the stock is below the strike price on this day, the warrant becomes worthless.
    • How to Read Canadian Warrant Symbols: If you are looking for these on your brokerage platform you need to know the suffixes. Exchange Suffix Example: Toronto Stock Exchange SHOP.WT.TO, TSX Venture VABC.WT.VN, Canadian Securities Exchange GROW.WT.CN. Pro Tip: If a company has multiple warrants, they are lettered (e.g., ABC.WT.A, ABC.WT.B). Always check the specific terms for the letter you are buying!"
    • The Math: Intrinsic vs. Time Value: Why does a warrant cost $2.00 when the stock is only $1.00 above the strike price?Intrinsic Value: The immediate "cash" value. (Stock Price - Strike Price). Time Value: The "hope" value. You are paying for the potential growth over the next few years. As the expiry date gets closer, this value disappears (a process called Time Decay).
    • Tax Considerations for Canadians: Warrants behave differently than stocks in the eyes of the CRA:Capital Gains: If you buy a warrant for function buildNav() { var container = document.getElementById('pagination-top'); if (!container) return; var html = ''; var delta = 1; // Number of pages to show on each side of current page // 1. PREVIOUS BUTTON if (currentPage > 1) { html += '« Prev'; } // 2. LOGIC FOR NUMBERS AND DOTS for (var i = 1; i <= totalPages; i++) { // Show first page, last page, and pages around the current page if (i === 1 || i === totalPages || (i >= currentPage - delta && i <= currentPage + delta)) { var activeClass = (i === currentPage) ? 'active' : ''; html += '' + i + ''; } // Add dots if there is a gap else if (i === currentPage - delta - 1 || i === currentPage + delta + 1) { html += '...'; } } // 3. NEXT BUTTON if (currentPage < totalPages) { html += 'Next »'; } container.innerHTML = html; } // Run the function buildNav();




.50 and sell it for $1.50, the $1.00 profit is treated as a standard Capital Gain (only 50% is taxable). TFSA/RRSP Eligibility: Most warrants listed on a "Designated Stock Exchange" (like the TSX) are qualified investments for your TFSA or RRSP. However, unlisted warrants from private placements often are not—be careful to avoid the 50% "prohibited investment" tax!Summary: The "Hockey Stick" PayoffThe reason people love warrants is the Payoff Curve. While the stock moves in a straight line, the warrant stays flat until it hits the strike price, then it curves upward with extreme speed.