Canadian Ship Token Lees 39 Or Another?

That's a Lees 32. Notice that there is only a single "H" in the right of the exergual lines on the obverse; that narrows it down to varieties 23 - 33. The toothed reverse border and cut knob & further narrows it to 28-32, and the die flaw on the mizzen-sail of the obverse is characteristic of Lees 32.

The Charlton Catalogue has a nice flow-chart for variety identification.

Hi Vince, they are tough to tell apart at first, but honestly with a bit of study it's not too hard to familiarize yourself with the series. I've been collecting these for only about 3 years, but it took me maybe a couple of weeks of trying in order to get to the level of familiarity that I have right now. Most are easy to identify on sight; however, there are some varieties, namely the "Double Guy Group" (Lees 14-22) and a few in the Double H group that remain tough to tell apart.

The way I did it was to go through the Charlton catalogue and cross-reference with various images of identified varieties on the web (from ebay, auction houses, google images, etc.) The Imperial Designs book by Christopher Faulkner is the next step if you want to really get into the details about every variety in the series!

Cheers,
Will