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For Immediate Release

01/06
CONTACT:

April 12, 2001
Donna Pincott
Communications Director
Canadian Venture Exchange
Tel: 1-877-884-CDNX

 

 

CDNX companies still graduating to TSE even though market is down

CALGARY, AB (April 12, 2001)— Financing activity at the Canadian Venture Exchange (CDNX) in the first quarter of 2001 reflected the pace of the overall market with a 30 per cent decline over the same period last year. Equity financings in the quarter totaled $424,409,364 million compared to $606 million in the same period last year.

"Not surprisingly, the capital raised has been lower in the first quarter of 2001, which is consistent with the softening of the capital markets overall," said CDNX President and CEO, Bill Hess.

The oil and gas sector accounted for 22 per cent of the capital raised in the quarter, while technology represented 36 per cent and mining came in at 15 per cent. Capital pool companies represented three per cent of capital raised, while the remaining 24 per cent went to a combined ‘other’ category, made up of businesses such as financial services, health care, industrial and real estate.

So far this year, CDNX financings reflect a move away from technology and increased interest in oil and gas. The 2.37 billion in equity financings for all of 2000 saw 11 per cent go to oil and gas, 50 per cent to technology and 16 per cent to mining.

However, new listings showed a 134 per cent increase so far this year. There were 75 new listings in the quarter, 14 of which are former Canadian Dealing Network (CDN) companies that were invited last fall to list on CDNX as tier 3 listings. There were 32 new listings for the same period last year.

CDNX continues to serve as an important channel to the senior markets with 11 companies graduating to the TSE during the first quarter of 2001. CDNX graduates accounted for 34 per cent of the TSE’s new listings for the first quarter of 2001 and 38 per cent overall in 2000.

 

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. The exchange also has offices in Vancouver, Winnipeg and Toronto.

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