The strong results are attributable to the high demand for venture capital among CDNX-listed technology companies, and a growing national recognition for the CDNX as a sophisticated, well-regulated market for venture class securities.

Technology companies accounted for 57 per cent ($1.1 billion) of total CDNX financings for the first nine months of 2000, with mineral exploration companies accounting for 15 per cent ($293 million) and oil and gas companies accounting for eight per cent ($153 million).

The largest financings completed in Q3 were Turbo Genset Inc. ($70,112,02); Global Light Telecommunications Inc. (US$67,050,000); Cell-Loc Inc. ($50,150,000); and BRM Capital Corp. ($40,000,000).

"These past nine months have demonstrated that the CDNX is clearly a significant source of venture capital for promising start-up companies, as well as a stepping stone for companies to graduate to senior exchanges," said Bill Hess, CDNX President and CEO.

New Listings and Graduates

A total of 13 CDNX listed companies graduated to the Toronto Stock Exchange (TSE) in the third quarter of 2000, bringing the total number of graduates this year to 37. These graduates represent 46 per cent of the TSE’s new listings in 2000. Companies graduating from the CDNX in the third quarter of 2000 include ACD Systems International Inc., Isotechnika Inc., NAME Inc. (formerly EcomPark Inc.), Medcom Soft Inc. and Gabriel Resources Ltd. On average, the share price for companies graduating from the CDNX has increased 213 per cent in the year prior to their graduation, from $2.59 to $8.11.

Fifty-one new companies began trading on the CDNX during the third quarter of 2000, bringing the total number of new listings for the year to 130. Eighty-two of these new listings are capital pools, 29 are resource-based companies and 19 are industrial -based companies. In addition, 20 reverse takeovers have occurred in 2000.