The Spring 2016 edition of the CSE Day Toronto was another great event. With guest speakers, listed issuers, capital markets professionals, investors as well as the CSE team, it was a full day of activity followed by a delicious networking reception.
Convincing investors to forego beautiful Vancouver spring weather is no easy feat. Yet, the lure of dozens of exhibitors and 40 plus speakers touting everything from green technology to the frontiers of applied neuroscience was enough to attract investors into this year’s edition of the Canadian Investor Conference (aka Canvest) on May 31st and June 1st.
The combination of both publicly-listed and private companies afforded visitors the chance to interact with entrepreneurs of all stripes. In addition to the mining and natural resource focused companies, one of the major draws for investors was the PowerHaus Pavillion, a section of the conference floor that housed two dozen private companies from a diverse set of industries.
It was fitting that in a room full of entrepreneurs that the Exchange for Entrepreneurs also played a major role as a supporter of this year’s show.
In addition to being a major sponsor, the CSE also participated as an exhibitor and in a panel discussion. CSE representatives Natalie Kovacs, Mark Francis and James Black were on-hand to answer questions about the Exchange. CEO of the CSE, Richard Carleton, was also present on Sunday and Monday, meeting, greeting and even doling out the occasional hug.
Private vs Public: An Evolving Dialogue
One of the key events the CSE participated in was the panel discussion on public versus private investment. Moderated by Blake Corbet of PI Financial Corp., the panel featured Jason Paltrowitz (OTC Markets Group Inc.), Richard Carleton (CSE), Marcus New (InvestX Capital Ltd.) and John McCoach (TSX Venture Exchange).
The lively and spirited discussion touched on a number of issues important to investors and entrepreneurs alike.
For example, one key message was that investors need to do their due diligence when looking for investment opportunities in either the private or public spheres. Recent regulatory reforms in the US as well as the new channels that investors can tap into to participate in exciting growth stories, are all designed to make access to early-stage capital easier. That said, panelists recognized the inherent risks associated with growth-stage firms and encouraged investors to take a measured approach to assessing investment opportunities in this space.
Another interesting perspective raised in the panel, was the shift in focus of investment capital into the technology sector.
As pointed out by Richard Carleton, technology companies listed on the CSE have accounted for the vast majority of financing deals that have taken place this past year. In fact, it is interesting to note the parallel shift experienced by the Canadian Investor Conference which has also seen a significant transition away from being exclusively natural resource companies to now showcasing up-and-coming technology stories.
Around the Conference
Richard Carleton was also interviewed on site by the Investing News Network – check out the full interview in the video below.
Several CSE-listed firms were also exhibiting at Canvest, including:
Check out some of the highlights from the Canadian Investor Conference in the picture gallery at the end of this post.
Winds of Change
Despite the challenges faced by small-cap and junior companies, the 2015 Canadian Investor Conference offered entrepreneurial firms with an interest in telling their story to find an audience to tell it to.
VP Listings Development, James Black, noted “Once again, we were happy with the outcome of this conference and always come away with new intelligence on how our marketplace is evolving. For instance, it’s clear that investment interest is starting to shift decidedly in favour of non-resource stories, even in Vancouver where mineral exploration deals been the bread-and-butter of the street. Our own stats further support this viewpoint as we are seeing a growing trend of IT, Biotech, and Cleantech companies attracting financing, specifically those based in BC.
As the last several years have shown, regardless of market conditions, innovators always find a way to thrive.
With the diversity and number of firms joining the CSE continuing to increase, it seems the market is also telling a story of its own: making capital easier to access and more affordable to raise is something entrepreneurs want and need in order to stay competitive.
To help get your day started right and also provide some food for thought, the Canadian Securities Exchange, along with sponsoring partners Clark Wilson, Davidson & Company LLP, and Equities.com, are holding a complimentary breakfast update session for public venture companies.
The breakfast information session is part of The CSE Day Vancouver, which takes place on Thursday April 23rd from 8:30am to 10am at the Pan Pacific Hotel Vancouver in the Coal Harbour Room. Further details and RSVP information are provided below.
Attendees of this event will be treated to breakfast as well as to a number of informative presentations. First, CSE representatives will provide an update of the activities and milestones achieved by the CSE this year. In addition, the CSE will provide a brief overview of the listing requirements and process to join Canada’s fastest growing securities exchange. Pertinent topics for public venture companies will be covered by Clark Wilson LLP and Davidson & Company including:
Amendments to continuous disclosure and corporate governance obligations of venture issuers;
Update on Regulation A+ offering reforms;
Accounting hot-topics for public companies.
This inaugural “CSE Day” stands to be a popular session so be sure to RSVP online here as seating for this breakfast event is limited.
As with years past, there was a lot to see and do at the 2015 edition of the PDAC. Over 23,000 individuals including mining executives, resource & exploration professionals and enthusiasts from 116 different nations braved the March weather to attend this year’s conference and get a flavour for the current state of the mining industry around the world.
The team from the Canadian Securities Exchange was on hand at the CSE booth and to co-host a networking luncheon alongside MNP LLP, Newsfile and Peterson & Company LLP. In addition, the CSE initiated a sponsorship this year for Mining Matters, a youth program aimed at inspiring the next generation of mining and resource enthusiasts.
For the CSE, it was another great conference with steady traffic to the exhibition booth as well as a strong turnout to the networking luncheon, great speakers, great food and of course great company.
Click through the slideshow below to see pictures from the exhibition floor and the networking luncheon.
In just a few weeks, mining and exploration companies, investors and dignitaries from across the globe will brave the Toronto weather for the annual Prospectors and Developers Association of Canada (PDAC) conference, the world’s largest mining and exploration conference.
The PDAC 2015 edition will feature a dizzying number of events packed into the first four days of March. From soil samples to soirées, there will most certainly be something for everyone.
This year’s PDAC will also be an exciting one for the CSE. In addition to exhibiting at the Investor’s Exchange, the CSE will also be hosting an investor networking luncheon as well as signing on as a sponsor for the outreach organization Mining Matters.
In addition to exhibiting at the PDAC, the CSE in partnership with MNP LLP, Newsfile and Peterson & Company LLP, will be hosting a special investor luncheon on Tuesday March 3rd from 11:30am to 1pm. During the luncheon, attendees will hear from a number of CSE-listed firms and will also have the chance to network with and ask questions to CSE representatives.
With a significant portion of their listings coming from across the natural resources sectors, the CSE is keenly aware of the current climate for publicly listed mining and exploration companies. Though there may be headwinds facing the mining industry, the PDAC typically demonstrates the enthusiasm with which those challenges are met. According to CSE CEO Richard Carleton, “We’re excited to be back at the PDAC. The energy of the conference is great and we look forward to connecting with entrepreneurs who demonstrate, time and again, the ability to overcome the challenges that the mineral exploration sector throws their way.”
Without question, the PDAC 2015 will showcase the great entrepreneurial spirit and resilience that characterizes the mining industry. The fact that they’re willing to brave Toronto in March is a testament to that.
As public companies know, having access to a wide investor base is an important component to the health of a public listing. For Canadian listed firms, however, knowing how, where and when to take the next step to leverage greater access to the US capital markets is often difficult and time consuming process to navigate.
The CSE in partnership with OTC Markets Group, MNP LLP, BCF, Dentons, Canaccord Genuity, and Torys will be holding an information session on listing in the US via one of the OTC Markets Group venues.
The session itself will take place in Montreal on February 24th and includes speakers and representatives from the CSE as well as OTC Markets Group. Attendees will have the opportunity to ask the experts specific questions related to the process of operating within the OTC group of marketplaces via a listing on the CSE.
Attendees can expect to learn about a number of valuable topics, including:
CSE listing standards and the process of listing a company on a Canadian stock exchange
OTC Markets overview, quotation standards, and process to get a stock quoted in the US
Legal and accounting considerations of companies seeking a public presence in Canadian and US capital markets
Insight into trading dynamics of stocks that are quoted in Canada and the US
Trends in financing early-stage ventures, both in Canada, and the US
Space is limited for this event so be sure to register early to claim your spot. For more information or to register, click this link or contact Scott Pritchard at (514) 594-6848 or firstname.lastname@example.org
Thank you to everyone who attended yet another CEO Cocktail event at Coast Restaurant in Vancouver on January 28th. The event turned out to be a great success! Thank you to Bacchus Law for lead sponsoring the soiree and organizing all of the food, invites, and drinks. Please see if you made the photo gallery below and we look forward to seeing you at the next event! Photos from the CEO Cocktail Event in Vancouver are below:
As part of the ongoing series of events focusing on entrepreneurship in Canada, the Canadian Securities Exchange (CSE) and the University of Calgary’s Faculty of Law co-sponsored an event in Calgary on January 15th, 2015 on promoting innovation in Canada.
The sold out event, entitled “Frugal Fare, Intellectual Feast”, featured University of Toronto Law Professor Jeffrey MacIntosh, B.Sc. LL.B. LL.M., a leading voice in the evolving Canadian innovation policy landscape. As part of his presentation, MacIntosh offered his perspectives on the current state of funding for the Scientific Research and Experimental Development (SR&ED) tax credit and the impact to small firms of recent cuts to the SR&ED program.
At its core, he believes the Federal Government’s decision to pursue a “direct assistance” model rather than “indirect” funding from the SR&ED tax credit program unfairly burdens typically cash-starved smaller firms and start-ups. Further, the kinds of ventures favoured by the direct assistance model are typically ‘lower-risk’ whereas the path towards innovation often requires companies prepared to take on greater risk. Thus, according to MacIntosh, the direct assistance model can actually slow down the pace of innovation.
The Value of Indirect Assistance
MacIntosh insists indirect assistance through deductions, tax credits and flow-through shares, remains a viable funding framework for small cap firms. This structure, he argues, removes the issues of political bias and regional preferences. It also reduces government’s overall administrative costs, while providing cost certainty for young, cash-starved business.
The reduction of paperwork and quicker access to liquidity are vital efficiencies for any small firm. The SR&ED tax credit program offers structured assistance and calendar certainty for cash strapped start-ups.
Accessing Capital Key to Innovation
Presentations such as these are crucial to the dialogue on the role of public policy in shaping innovation in public markets. According to Western Canada Advisor for the CSE, Mark Francis:
“The CSE believes that being an exchange is also about creating a meeting place for ideas and discussion about the capital markets. Different and potentially controversial points of view are critical to testing worthiness not just of investment theses but also of policies and structures that affect access to capital.”
Given the interest in the event, it is clear that funding for small and medium sized firms remains an important component to supporting innovation.
As the Exchange for Entrepreneurs, the CSE is actively working to improve access to capital for innovative firms as well as reduce the administrative burden associated with operating as a public entity. Ultimately, the CSE believes, this enables entrepreneurs more opportunities to focus time and resources on growing their business.
For additional reading on Jeffrey MacIntosh’s perspectives on innovation in Canada and other related readings on the subject, the following links may interest you:
We are happy to share photos from the CSE Pavilion at VRIC 2015 in the gallery below.
Thank you to American Potash Corp. (CSE:AMP), MGX Minerals Inc. (CSE:XMG), Pasinex Resources Limited (CSE:PSE), and Newlox Gold Ventures Corp. (CSE:LUX) for co-hosting the CSE Pavilion at the Vancouver Resource Investment Conference! Also a big thank you to Davidson & Company LLP for co-hosting this year’s Championship Sunday Reception.
Finally, congrats to Cambridge House International for hosting their 20th VRIC – we are looking forward to many more ahead.
Professor Jeffrey MacIntosh, Toronto Stock Exchange Chair in Capital Markets Law at the University of Toronto
Innovation is a key component of a competitive economy. Often, however, that innovation also requires taking risks. Many small cap firms take on the challenge and risk of finding innovative solutions to problems facing the world today and in the process help raise the wealth and well-being of their host country. What then, is the appropriate role for Government to play in facilitating innovation from entrepreneurs, especially against the current challenging environment for public small cap firms?
This and other fascinating issues related to innovation in Canada will be discussed at an event (now sold out) co-sponsored by the Canadian Securities Exchange and the University of Calgary’s Faculty of Law. Entitled “Frugal Fare, Intellectual Feast” the session will certainly provide both. The keynote speaker, Professor Jeffrey MacIntosh, is the Toronto Stock Exchange Chair in Capital Markets Law at the University of Toronto and is a thought leader in the conversation on innovation policy within Canada.
In particular, MacIntosh’s talk will highlight the Federal Government’s 2011 report Innovation Canada: A Call to Action and the impact to small cap firms of Government policy shifts regarding the Scientific Research & Experimental Design (SR&ED) tax credit program.
The event will take place at the Metropolitan Centre in Calgary on January 15th from 11:45am to 1:15pm.
For additional reading on MacIntosh’s perspectives on innovation in Canada and SR&EDs, the following links may be of interest.