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For Immediate Release

01/01
CONTACT:

January 11, 2001
Donna Pincott
Communications Director
Canadian Venture Exchange
Tel: 1-877-884-CDNX

 

 

CDNX experiences significant growth in its inaugural year

 

CALGARY, AB (January 11, 2001)— With a mandate to become a national venture capital stock exchange that provides emerging and small companies access to capital, the Canadian Venture Exchange (CDNX) ended its first year of operation having helped companies raise $2.37 billion in equity financings. It also saw 45 of its listed companies graduate to the Toronto Stock Exchange (TSE).

"Small business is a significant growth engine for the Canadian economy," said CDNX President & CEO Bill Hess. "Companies listed on CDNX not only raise capital, but learn how to manage their businesses under the regulatory and legal requirements established for public companies before they move up to the senior markets."

CDNX’s key success measure is its graduates. Last year, CDNX listed companies represented 38 per cent of the TSE’s new listings.

"For people who invested in these graduates," said Hess, "average share price increased 302 per cent in the year prior to graduation (from $2.39 to $7.06)."

In its inaugural year, CDNX also embarked on its own growth strategy acquiring the Canadian Dealing Network from the TSE and the Winnipeg Exchange last fall. As a result, it added two new offices and approximately 300 new listings. The exchange now has offices in Calgary, Toronto, Vancouver and Winnipeg.

CDNX’s flagship CPC (Capital Pool Company) program also gained further acceptance in 2000, receiving approval to be offered in Saskatchewan and Manitoba. The CPC program accounted for 129 of the 475 new listings on the CDNX in 2000.

And despite the North American stock market performance in the latter part of 2000, CDNX closed out the year with its index outperforming every other index in North America, up 23.8 per cent over 1999. Hess attributes the strong results to the high demand for venture capital and a growing national recognition of CDNX as the Canadian exchange for venture class securities.

 
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Who is the CDNX?

The Canadian Venture Exchange (CDNX) is Canada’s national exchange for venture class securities.

The CDNX specializes in providing financing for emerging companies and preparing them for graduation to senior markets. CDNX graduates represented 38 per cent of the TSE’s new listings in 2000.

Strict regulatory guidelines

CDNX is the only regulated venture class exchange in the world. Companies listed on the CDNX are classified into distinct tiers, each with initial listing requirements based on financial performance, stage of development and financial resources at the time of listing.

Listed companies must also meet strict requirements for corporate governance structures and the eligibility of directors and officers, and adhere to the guidelines for continuous disclosure.

Broader access to emerging markets

CDNX supports the growth of Canada’s emerging companies and provides access for investors wishing to participate in venture class investments in North America’s only regulated public venture capital market.

Last year, technology companies accounted for
one-quarter of the entire growth of the Canadian GDP. CDNX has continued to support this growing sector of Canada’s economy with technology financings accounting for 50 per cent of CDNX’s new listings in 2000. CDNX listed companies are also active in the resource, industrial and manufacturing sectors.

 Quick Facts

Employees: approx. 270

Launch date: Nov. 29, 1999

National offices:

  • Calgary
  • Toronto
  • Vancouver
  • Winnipeg

Member firms: 66 and 16 Participating Organizations (companies with trading access to CDNX but are not members)

Capital raised: approx. $2.37B

  • Technology: 50%
  • Mining: 16 %
  • Oil and Gas: 11 %
  • Other: 23 %

Average Financing Value: $1.175MM

Total Market Cap: $107 Billion (equities and debt)

Equities: $14.911 Billion

Debt: $92.174 Billion

Avg. Equity Market Cap:$5.74 MM

Trading Activity: (1999 vs. 2000)

  • 49% increase in trading volume
  • 118% increase in dollar value
  • 103% increase in transactions

Total Companies Listed:2,598

Total Issues: 2,696

New Listings: 475 (262 Tier 3)

Graduates: 45 (Ontario, 12; Alberta, 20; British Columbia, 9; Other, 4)

Index: é 23.8% (from 2337.45 to 2894.21)

 

 

Headquartered in Calgary, the Canadian Venture Exchange (CDNX) is Canada’s public venture capital marketplace providing emerging companies with access to capital while offering investors a well-regulated market in which to make venture investments. CDNX listed companies are active in the mining, oil and gas, manufacturing, technology, financial services and other sectors.

 

For more information, contact:

Donna Pincott, Director
Corporate Communications
(Office) 403-974-7436
(Cell) 403-589-2991
E-mail: dpincott@cdnx.com

Please visit the Exchange’s website at www.cdnx.com

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