(October 2 – 15:00 ET) – Today marks the first day of trading on the Canadian Venture Exchange for 167 companies previously listed on the quoted issuer market of the Canadian Dealing Network.
“With the opening of a Toronto office and the integration of CDN companies, many of which are headquartered and have shareholder bases in Ontario, the Canadian Venture Exchange is delivering on its promise to become a truly national exchange for venture capital securities,” said Gerry Romanzin, CDNX executive vice president. “This is another step in our mission to enhance the North American marketplace for venture capital and we are pleased to welcome these companies to CDNX.”
The 167 quoted issuers that began trading today on TradeCDNX represent those companies that met a September 15 deadline to become listed on Tier 3. A second tranche that met a later September 29 deadline will be assessed and put onto Tier 3 commencing October 10.
Investors can identify Tier 3 stocks with root symbols beginning with the letter ‘Y’ in the three-letter trading symbols.
“There’s no question that the new Tier 3 CDNX companies will benefit from enhanced credibility and visibility that the world’s only well-regulated, sophisticated venture capital exchange can provide,” said former CDN Director and new CDNX vice president for Ontario, Kevan Cowan.
Cowan noted that shareholders of the new Tier 3 CDNX companies also will benefit from the trading advantages and technical sophistication of a pure auction market like the CDNX. “These 167 companies also represent approximately $2 billion in market capitalization (excluding debentures),” he added.
-IE Staff