New exchange initiative designed to better support the success of early-stage growth companies by increasing efficiencies, accelerating transaction timelines, and reducing issuer costs  

TSX Venture Exchange (TSXV) announced the next phase of its Venture Forward initiative designed to strengthen Canada’s public venture market, the foundation of the country’s capital formation ecosystem. In a new report , TSXV outlines several important commitments to innovation and growth, in an effort to enhance the overall stakeholder experience and clear a path for new companies and investors to enter our ecosystem. The report incorporates valuable feedback from stakeholders across the venture community following a collaborative, in-depth consultation process.

“This is an exciting day for TSXV, as we share our commitments and plans to address near-term stakeholder challenges and build Canada’s vibrant and vital public venture market stronger for the future,” said Loui Anastasopoulos, CEO, Toronto Stock Exchange and Global Head, Capital Formation, TMX Group. “Venture Forward is a key component of our ongoing strategy to push the evolution of our unique and powerful capital formation ecosystem, serve the needs of modern stakeholders, and sharpen our competitive edge in an increasingly borderless capital market landscape.”

Background on Venture Forward

While Canada’s public venture market has a proven track record of generating growth for issuers and investors and driving economic prosperity, modern markets continue to rapidly evolve. In keeping with our corporate purpose to make markets better and empower bold ideas, TSXV is firmly committed to ensuring that Canada’s public venture market adapts to keep pace with the needs of our stakeholders. In 2022, we set out to advance the evolution of our market by seeking out ways to reduce the barriers and burdens to access public venture capital, expand the global issuer and investor base, and grow the overall ecosystem. TSXV undertook a thorough consultation process, working closely with entrepreneurs, investors, financiers, lawyers, and advisors, to identify priority challenges and opportunities.

Tim Babcock, Vice President and Head of TSX Venture Exchange, added “I want to thank the hundreds of respondents from across the community for their candid input and invaluable support throughout the Venture Forward consultation process, and for their immense contribution to shaping this report. We are encouraged by the progress we have made to date in some of the key areas of focus and look forward to the collaborative work ahead in pursuit of positive change, and enduring success.”

The report highlights four key TSXV commitments:

• Introducing an innovative TSXV Passport Listing Process to significantly accelerate the listing and capital-raising timeline for qualified TSXV new listing applicants,
• Accelerating the Exchange’s ongoing Digital Transformation by providing issuers with increased access to digital products, services, and resources,
• Launching TSXV Sandbox, an initiative to encourage innovation and provide support for listing unique businesses or transaction structures, and
• Evaluating the need and appetite for a New, Highly Differentiated Exchange to complement TSXV, with the goal of providing new categories of early-stage companies, alternative asset classes, and investors with access to public markets.

The report contains six additional commitments designed to enhance TSXV’s position as the global leader in supporting the success of small and medium-size public companies.

For more information on Venture Forward and to read the full report, please visit https://ventureforward.tsx.com/ 

Source: TSX Venture Exchange