Most likely contains a reprint of an American comic from the same period. Information for this partial index added based on photos from an eBay auction. Date has to be after July based on the inclusion of at least one story from July 1951.
Appears to be a reprint of part of a splash page used as the cover. If it is the Texas Kid, it would have originally appeared in The Texas Kid, Two Gun Western or Wild Western.
Middle page of story shown in auction had multiple mentions of the Phantom Rider, so it assumed to be this story.
Coupon has been blanked out. Presumably this comic was printed using the American plates but the coupon was blanked out to prevent Canadians from ordering the product.
On back cover of comic. Note that the same ad appears on the back of Amazing Animals #17 which is published by Elhil.