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Davidson & Company LLP Annual TMX Update

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Davidson & Company LLP Annual TMX Update Davidson & Company LLP Annual TMX Update Andy Creech, Director January 2020 TOPICS OF DISCUSSION 1. TSX/TSXV Market Updates 2. Cryptocurrency & Cannabis Sectors 3. TSX/TSXV Personal Information Forms 4. Accounting 5. Growth Accelerator 2 TSX VENTURE EXCHANGE TSXV Issuers by Sector By Number of Companies TSXV Dec. 31, 2019 As at December 31, 2019 Clean Technology & Renewable Energy… Listed Issuers 1,673 Financial Services 3% Real Estate 2% Total Market Cap $45 B Life Sciences 6% Median Market Cap $5.3 M Diversified Industries… Average Market Cap $26.3 M Energy 6% Financings $3.2 B Mining CPC/SPAC 56% Average Financing $2.7 M 8% New Listings 139 Technology 10% As at September 30, 2019. Energy includes Oil & Gas, Energy Services and Utilities & Pipelines. 3 TORONTO STOCK EXCHANGE TSX Issuers by Sector By Number of Companies As at December 31, 2019 TSX Dec. 31 2019 Technology Clean Tech & Renewables Listed Issuers 1,578 3% 2% SPAC 0.1% Real Life Sciences Total Market Cap $3.1 T Estate 3% 4% Financial Median Market Cap $127 M Services 5% Average Market Cap $2.0 B Closed-End Funds ETFs Financings $34.8 B 6% 44% Energy Average Financing $68 M 6% New Listings 134 Mining 13% Diversified Industries 14% As at September 30, 2019. Energy includes Oil & Gas, Energy Services and Utilities & Pipelines. 4 TSXV GRADUATION ACTIVITY 25 8 of 2019 Graduates so far have been past Venture 50 winners. 20 +75% 15 10 5 0 2015 2016 2017 2018 2019 Source: TSX/TSXV Market Intelligence Group. 5 5 A Unique Public Incubator Toronto Stock Exchange of equity capital raised by $133B graduates since 2000 674 graduates of equity capital raised by $22B Innovation graduates since TSX Venture Exchange 2000 27 From January 1, 2000 to September 30, 2019. PUBLIC VENTURE CAPITAL Sector Diversification by Equity Capital Raised 3500 3000 2500 2000 1500 1000 500 0 7 2014 2018 2019 Source: TSX/TSXV Market Intelligence Group; as at December 31 2019. Diversified Industries includes Comm. & Media, Consumer & Industrial Products, CPCs, and Real Estate sector. 7 GEOGRAPHIC MAKEUP International Activity by Number of Issuers 80 74 70 66 66 60 50 40 30 25 19 18 Number ofNumberIssuers 20 15 11 12 10 8 8 9 10 8 10 8 10 4 1 3 3 0 Africa Australia/NZ/PNG Other USA Israel 2014 2018 YTD July 2019 Listings has Source: TSX/TSXV Market Intelligence Group; as at July 31, 2019. International Issuers excludes Canada. Other includes Issuers in Bermuda, Cayman Islands, Channel Islands, Guernsey and Israel. 8 8 EVOLUTION OF TSX VENTURE: 2014 – 2019 Sector Breakdown Number of Issuers Sector Contribution by Market Capitalization Innovation Innovation Financials Financials 16% 19% 13% Resources Resources 15% 18% 27% Other Other 13% 12% 13% 26% 4% 3% 15% 18% 2% 12% 54% 73% 47% 13% 2014 47% 2014 64% 13% 62% 2018 2018 2019 2019 Source: TSX/TSXV Market Intelligence Group; as at December 31, 2019. Innovation Sector includes Clean Technology, Life Sciences, and Technology. Resources Sector includes Mining and Oil & Gas. Other includes CPCs, Diversified Industries (Comm. & Media, Consumer & Industrial Products, Real Estate) and Utilities & Pipelines Sector. 9 9 CRYPTOCURRENCY SECTOR •Have seen a decrease in the sector overall •One graduation (Hut 8) of first crypto miner on TSX via Sandbox listing CANNABIS SECTOR •Consolidation in the market; •International expansion; •Hemp based growth 10 PERSONAL INFORMATION FORMS •Fully automated with online filing: •https://www.tmx.com/pif •“Smart” PIF in which certain responses lead to or skip other questions, notify the filer if information is missing or incorrect etc. •Benefits of online PIFs / 2C1s: • Eliminates the notarization requirement • Permits electronic signatures • Permits electronic filing online •October 10, 2019 : the Exchange provided notice that it would accept a Form 2C1 Declaration if an individual has submitted a PIF to the Exchange within the last 60 months . 11 ACCOUNTING UPDATE IFRS 16: • Leases: Issuers record an asset and liability related to an operating lease on its balance sheet. • Current Liability vs Long Term Asset • Creates negative impact on working capital for Initial Listing Requirements 12 GROWTH ACCELERATOR •ALL NEWLY-LISTED COMPANIES ARE INVITED TO PARTICIPATE IN OUR COMPLIMENTARY GROWTH ACCELERATOR PROGRAM SESSION TOPICS Company executives Governance Follow-on Transactions 1 select the sessions of Principles of Good Governance Post Listing Transactions interest Building an Effective Board Declaring Dividends Initiating a Normal Course Issuer Bid We arrange a time/place Trading 2 for each one-on-one Trading Basics Understanding your Trading session Investor Relations Role of your Market Maker Top Ten Best Practices in IR Tracking, Targeting & Surveillance Each session is designed to Board Reports Disclosure Conducting a Successful AGM 3 take approximately 60 minutes TMX Disclosure Requirements IIROC’s Role Regarding Disclosure 13 14 SUPPORTING YOUR GROWTH •WE SUPPORT COMPANIES AT ALL STAGES OF THEIR GROWTH WITH A BROAD SUITE OF SERVICES THAT LEVERAGE OUR BUSINESSES AND PARTNERSHIPS GOING PUBLIC STARTING OUT TOOLS FOR SUCCESS STANDING OUT Transfer Agency Listing Ceremony IR Web Content Tools Index Inclusion Corporate Trust Services Growth Accelerator Workshops and Continuing Investor Days Series Education Newswire Venture 50 Awards CEO Video Board Communication A Designated TMX Contact Milestone Celebrations Market Insights Platform Share Plan Administration Advanced IR Solutions Market Data Platform Shareholder Information Webcasting 15 LISTINGS RECEIVE THE STATISTICS MONTHLY MIG REPORT IN YOUR INBOX TSX.COM/MIG @TSX_TSXV SUBSCRIBE ANDY CREECH ARNE GULSTENE The document and the information contained therein are provided “as is” for information purposes only and DIRECTOR, CAPITAL FORMATION HEAD, TSX COMPANY SERVICES are not intended to provide investment, financial or other advice, and should not be relied on for any trading, business, financial or other purposes. The TSX VENTURE EXCHANGE TMX GROUP information provided is not an invitation to purchase securities listed on Toronto Stock Exchange and/or TSX Venture Exchange. TMX Group Limited and its T +1 604 602-6936 T +1 604 602-6970 affiliated companies (collectively, “TMX”) do not E [email protected] E [email protected] endorse or recommend any securities referenced in this document. Neither TMX Group Limited, nor any of its affiliated companies or entities, guarantees the completeness of the information contained in this document and we are not responsible for any errors or omissions in, or your use of, or reliance on, the information. © 2019 TSX Inc. All rights reserved. Do not sell, reproduce or modify this document without TSX Inc.’s prior written consent. TMX, the TMX design, TMX Group, Toronto Stock Exchange, TSX, TSX Venture Exchange and TSXV are the trademarks of TSX Inc. tmx.com 16 tmx.com.
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