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Books
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
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Warrant News - 2008
Warrant News Archive (1984 – Present)
| Date | Sym | Company | News |
| 23-Dec-08 | NBD | Norbord Inc | Warrants Called to Trade |
| 9-Dec-08 | MFL | Minefinders Corp Ltd | Warrants Called to Trade |
| 2-Dec-08 | AOG | Brompton Advantaged Oil&Gas Inc Fund | Warrants Called to Trade |
| 2-Dec-08 | AV | Brompton Advantaged VIP Inc Fund | Warrants Called to Trade |
| 2-Dec-08 | OGF | Brompton Oil & Gas Income Fund | Warrants Called to Trade |
| 2-Dec-08 | VIP | Brompton VIP Income Fund | Warrants Called to Trade |
| 28-Nov-08 | AOG | Brompton Advantaged Oil & Gas Inc Fund | Prospectus Filed |
| 28-Nov-08 | OGF | Brompton Oil & Gas Income Fund | Final Prospectus Filed |
| 26-Nov-08 | SCP | Sprott Resource Corp | Warrants Update |
| 25-Nov-08 | SCP | Sprott Resource Corp | Warrants Called to Trade |
| 20-Nov-08 | NRK | Northrock Resources | New Listing |
| 18-Nov-08 | DPM | Dundee Precious Metals Inc | Warrants Called to Trade |
| 10-Nov-08 | PNP | Pinetree Capital Ltd | Warrants Called to Trade |
| 7-Nov-08 | GLW | Gold Wheaton Gold Corp | Warrants Called to Trade |
| 7-Nov-08 | PON | Potash North Resource Corp | Warrants Called to Trade |
| 1-Oct-08 | CIW | Copernican World Fin Infrastructure Tr | Warrants Called to Trade |
| 1-Oct-08 | RF | C A Bancorp | Overallotment |
| 29-Sep-08 | XHM | Star Hedge Managers Corp | Warrants Called to Trade |
| 19-Sep-08 | CRJ | Claude Resources Inc | Warrants Called to Trade |
| 17-Sep-08 | SLW | Silver Wheaton Corp | Symbol Change |
| 16-Sep-08 | SLW | Silver Wheaton Corp | Warrants Called to Trade |
| 16-Sep-08 | SLW | Silver Wheaton Corp | Warrants Called to Trade |
| 15-Sep-08 | BAA | Banro Corp | Warrants Called to Trade |
| 15-Sep-08 | PRE | Pacific Rubailes Energy | Symbol Change |
| 15-Sep-08 | PRE | Pacific Rubailes Energy | Warrants Update |
| 4-Sep-08 | K | Kinross Gold Corp | Warrants Called to Trade |
| 28-Aug-08 | GXR | Georox Resources | Warrant Clarification |
| 26-Aug-08 | GXR | Georox Resources | New Listing |
| 26-Aug-08 | HBM | HudBay Minerals Inc | Warrants Called to Trade |
| 22-Aug-08 | GP | Golden Predator Mines Inc | Warrants Called to Trade |
| 20-Aug-08 | MTO | Metanor Resources Inc | Warrants Update |
| 19-Aug-08 | MTO | Metanor Resources Inc | Warrants Called to Trade |
| 11-Aug-08 | CBK | Copernican World Banks Inc and Grwth Tr | Warrants Called to Trade |
| 11-Aug-08 | FIT | International Financial Inc and Growth Tr | Warrants Called to Trade |
| 11-Aug-08 | GBP | Global Banks Premium Income Trust | Warrants Called to Trade |
| 1-Aug-08 | EET | Etruscan Resources Inc | Warrants Called to Trade |
| 30-Jul-08 | ANS | Ainsworth Lumber Co Ltd | Warrants Called to Trade |
| 29-Jul-08 | BNK | Bankers Petroleum Ltd | Consolidation |
| 18-Jul-08 | BCM | Bear Creek Mining | Prospectus Approved |
| 15-Jul-08 | CPM | Copernican Int Prem Div Fund | Warrants Called to Trade |
| 14-Jul-08 | FEI | Fortress Energy Inc | Warrants Called to Trade |
| 10-Jul-08 | EPM | European Minerals Corp | Name Change |
| 9-Jul-08 | ACX | Ascendant Copper Corp | Name Change |
| 9-Jul-08 | CUX | Copper Mesa Mining Corp | Name Change |
| 2-Jul-08 | MR | Metallica Resources Inc | Warrants Called to Trade |
| 2-Jul-08 | NGD | New Gold Inc | Warrants Called to Trade |
| 2-Jul-08 | NGD | New Gold Inc | Warrants Called to Trade |
| 30-Jun-08 | CUM | Copper Mountain Mining Corp | Warrants Called to Trade |
| 26-Jun-08 | PHC | Phoenix Coal Corp | New Listing |
| 25-Jun-08 | OGE | O'Leary Global Equity Income Fund | New Listing |
| 13-Jun-08 | ERD | Erdene Gold Inc | Name Change |
| 11-Jun-08 | OSK | Osisko Exploration Ltd | Name Change |
| 3-Jun-08 | CCJ | Coalcorp Mining Inc | Warrants Called to Trade |
| 3-Jun-08 | GFT | Connor Clark&Lunn Global Fin Fund II | Warrants Called to Trade |
| 2-Jun-08 | COX | Coxe Commodity Strategy Fund | Warrants Called to Trade |
| 28-May-08 | CEK | Caspian Energy Inc | Warrants Called to Trade |
| 27-May-08 | MCG | Melco China Resorts (Holding) Ltd | Warrants Called to Trade |
| 23-May-08 | PRP | ProSep Inc | Symbol Change |
| 9-May-08 | CXX | Crosshair Exploration & Mining Corp | Move to TSX |
| 29-Apr-08 | CALS | Calstar Oil & Gas Ltd | Expiry Date Extended |
| 18-Apr-08 | WTN | Western Canadian Coal Corp | Warrants Called to Trade |
| 15-Apr-08 | HAY | Stone Agribusiness | Overallotment |
| 15-Apr-08 | MAR | Marathon PGM Corp | Warrants Called to Trade |
| 10-Apr-08 | HAY | Stone Agribusiness | Units Separation |
| 9-Apr-08 | CXX | Crosshair Exploration & Mining Corp | Prospectus Approved |
| 20-Mar-08 | FR | First Majestic Silver Corp | Warrants Called to Trade |
| 19-Mar-08 | AMR | Atlas Minerals Inc | Warrants Called to Trade |
| 17-Mar-08 | OCO | Oroco Resources | New Listing |
| 17-Mar-08 | RNZ | Ranaz Corp | Warrants Called to Trade |
| 17-Mar-08 | RNZ | Ranaz Corp | Warrants Called to Trade |
| 17-Mar-08 | RNZ | Ranaz Corp | Warrants Update |
| 17-Mar-08 | TCP | Trident Performance | Units Separation |
| 11-Mar-08 | FNV | Franco-Nevada Corp | Warrants Called to Trade |
| 6-Mar-08 | CHQ | Challenger Energy | Prospectus Approved |
| 4-Mar-08 | PIK | Peak Gold Ltd | Warrants Called to Trade |
| 28-Feb-08 | CRP | Ceres Global Ag Corp. | Symbol Change |
| 28-Feb-08 | TMB | Tembec Inc | Substitional Listing |
| 27-Feb-08 | DIO | Dioro Exploration | New Listing |
| 21-Feb-08 | PNP | Pinetree Capital Ltd | Warrants Called to Trade |
| 19-Feb-08 | DAV | Davie Yards Inc | Warrants Called to Trade |
| 11-Feb-08 | CSI | Colossus Minerals | New Listing |
| 28-Jan-08 | AAB | Aberdeen International | New Listing |
| 23-Jan-08 | CMP | CMP Gold Trust | New Listing |
| 14-Jan-08 | CRP | Ceres Global Ag Corp. | Additional Warrants Listed |
| 8-Jan-08 | AMR | Atlas Minerals Inc | Warrants Called to Trade |
| 8-Jan-08 | RML | Rusoro Mining Ltd | Warrants Called to Trade |
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Warrant Calculators
Warrant Calc
Intrinsic (Per Warrant)
$0.00
Fair Value (Per Warrant)
$0.00
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.
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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 $0.50 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" Payoff The 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.