(April 12 – 16:15 ET) – Financing activity at the Canadian Venture Exchange in the first quarter of 2001 reflected the pace of the overall market with a 30% 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% of the capital raised in the quarter, while technology represented 36% and mining came in at 15%. Capital pool companies represented 3% of capital raised. The remaining 24% 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% go to oil and gas, 50% to technology and 16% to mining.

However, new listings showed a 134% increase so far this year. There were 75 new listings in the quarter, 14 of which are former Canadian Dealing Network 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.

Eleven CDNX listings graduated to the TSE during the first quarter of 2001. CDNX graduates accounted for 34% of the TSE’s new listings for the first quarter of 2001 and 38% overall in 2000.