Light for ~$150

[sharky84]

The DRIS 1000 is a good one and well under your budget.

Will have a look at this one but at first glance it looks rather small. If within budget I'd rather prefer something bigger like the one I had. I just prefer to handle a bit bigger lights than smaller ones.
Other than that, it looks like a decent light.

 

[scubastingray]

That light is on the side of too big, if anything IMO. It takes 3 C cells, so it's quite large.

 

[Locus]

My buddies and I all use the Xtar D06 with the cree xml t6 led. Bright, adjustable, tough, small, and ~$90 off ebay including shipping to Canada. Good on its own and makes a good backup if you want something bigger later on.