CNSX Markets Inc. Completes $3.2 Million Financing
CNSX Markets Inc. raises an additional $1.6 million, led by Urbana Corporation.
TORONTO – March 21, 2013 – On March 4, 2013, CNSX Markets Inc. (“CNSX” or the “Exchange”) completed the second tranche of a financing, the first part of which was announced on December 17, 2012. The transaction raised a total of $3.2 million for CNSX. Current shareholders, employees, officers, directors and strategic third parties participated in the offering, which was led by Urbana Corporation (“Urbana”). As a result of the transaction, Urbana is CNSX’s largest shareholder.
With the proceeds of the financing, CNSX has eliminated its long term debt, is enhancing its sales and marketing efforts and has embarked on a capital investment programme designed to deliver new trading services and reduce technology and network costs for the company and its dealer and vendor partners. “With the support of our existing and new shareholders, CNSX is building on its growing reputation as the ‘Exchange for Entrepreneurs’”, said Richard Carleton, CEO of CNSX. “Our service-oriented team, clear and concise rule book, streamlined issuer review process and attractive fee structure combine to make CNSX an excellent choice for companies looking to access the Canadian public capital markets.” For further information please contact Richard Carleton, CEO, at 416-572-2000 ext. 2326.
Further information about CNSX is available at www.cnsx.ca
CNSX Markets Inc. is a Canadian company established in 2001 that operates the Canadian National Stock Exchange and Pure Trading. It was recognized by the Ontario Securities Commission as a stock exchange in 2004, and in 2007 with the launch of Pure Trading, provided the Canadian trading community with the first competing electronic continuous auction market facility. In 2012, in a challenging environment for early stage capital, the number of issuers listed on CNSX increased by 16%, trades by 23% and share volume by 10% over 2011. CNSX provides listing and trading services to a wide range of Canadian and international issuers by offering low fees and innovative continuous disclosure features designed to minimize regulatory costs while improving the quality of information available to investors. With over 185 securities listed, and 90 participating dealers, CNSX is an attractive and growing venue for issuers of equity and debt securities from all business sectors.