"The CPC Program is a unique two-step going public program for emerging companies," said Louis Doyle, Vice-President of the TSX Venture Exchange. "And it enables private entrepreneurs to access the public venture market and provides Québec investors the opportunity to invest in early stage companies."
Since its inception, the CPC Program has helped more than 1,000 companies across Canada raise money to build and enhance their growth strategy. But until the introduction of the program in Québec, Québec-based companies that wanted to take advantage of the program had to do so outside Québec.
"The launch of the CPC Program in Québec is another step in the evolution of our Exchange into a true national venture capital marketplace," said Linda Hohol, President of the TSX Venture Exchange. "Issuers have been served by our Montréal office since last fall and with the introduction of the CPC Program, we hope Québec investors will embrace these emerging companies as they continue on their road to growth."
There are currently 163 Québec based companies on the TSX Venture Exchange (6% of total.) These 163 companies have a combined market cap of $699 million or 7% of the total market cap of all TSX Venture companies. Nine out of this year's 67 (or 13%) new listings have been Québec-based companies. Québec-based companies have raised a total of $73.5 million in financings this year. This represents 7% of all financings completed on the TSX Venture Exchange.
TSX Venture Exchange companies are key contributors to new listings to the senior exchange. Since 2000, 89 TSX Venture Exchange companies have graduated to the Toronto Stock Exchange. TSX Venture Exchange helps young, growing companies turn their visions of success into reality. It is the bridge that takes companies from private venture funding to the senior equity markets.
