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If there are several orders competing for a stock at the same price, a priority determines when one of these orders will be filled before any other at this price. Priority is based on the time at which the order is received into the system.

A security that features an option for the holder to require the issuer to redeem it, subject to specified terms and conditions.

Company with market capitalization less than $1 billion.

A price gap describes the situation where a stock opens at a price either higher or lower than the closing price the day before. This usually happens when some news affecting the value of the stock is announced after the market closes, e.g., positive or negative earnings, a buy-out, etc. Stocks that gap at the open often move back toward the previous close before moving again, but not always. Strong news such as projected higher earnings from the company tend to drive the stock without the pull back.

The traditional term for membership on a stock exchange. An investment dealer or brokerage buys a seat on the exchange and one employee is designated as the seat holder. As Toronto Stock Exchange is now demutualized, there are no longer seats on the exchange.

The private offering of a security to a small group of buyers. Resale of the security is limited. See Best Efforts and Bought Deal Underwriting.

After tax income (latest 12 months) divided by total of shareholder’s equity plus long term debt, plus other long term liabilities.

Orders which must trade under special conditions. For example, a cash order will be settled sooner than the usual three-day settlement period.

Latest share price divided by book value stated in latest report.

The dollar value of secondary offering securities issued in accordance with a TSX or TSX Venture Exchange approved transaction. It is the stated prospectus price multiplied by the “number of securities issued under the offering plus the over allotment”.