TSX Venture 50 highlights role that
Canada's premier venture exchange
plays in supporting access to capital amid economic
challenges
TORONTO, Feb. 21,
2023 /CNW/ - TSX Venture Exchange (TSXV) today
released its 2023 Venture 50®, shining a light on the
top-performing companies from Canada and around the world that are driving
growth across their respective sectors.
The Venture 50 showcases TSXV issuers across five sectors:
energy, mining, clean technology and life sciences, diversified
industries, and technology. The ranking is an equal weighting of
each firm's performance during 2022 across three key indicators:
market capitalization growth, share price appreciation, and trading
volume.
"This year's results highlight the critical role that TSXV plays
in ensuring that growth-stage companies can continue to access the
capital they need to build and expand their businesses," said
Loui Anastasopoulos, CEO, Toronto
Stock Exchange and Global Head, Capital Formation, TMX Group. "The
2023 Venture 50 includes companies from across Canada as well as nine international issuers,
reflecting the impressive global reach of our venture markets as we
continue to broaden and diversify our dynamic ecosystem. TSXV is
pleased to be able to provide investors with the opportunity to
invest in the best and brightest small cap companies, across a
range of various sectors, and from regions across the world."
2023 Venture 50 companies delivered an average financial return
of 73% and saw an average market capitalization increase of 145%.
Performance was especially strong among mining and energy
companies, which grew 174% and 89% respectively, compared to 34%
combined growth among other sectors.
Canadian companies from a cross-section of sectors and regions –
representing five provinces – make up the majority of the 2023
winners, demonstrating TSXV's importance to Canada's economic growth. The 2023 list also
highlights the unique international opportunities available to
Canadian investors through public venture capital. This includes
Sigma Lithium (TSXV: SGML), a Brazilian mining company with
projects located in the state of Minas Gerais. Sigma led this
year's Venture 50 list with a 250% market capitalization increase
and a 193% increase in its share price. Issuers from the Netherlands and several American states
round out the international contingent of this year's Venture
50.
"We congratulate this year's Venture 50 companies for their
resilience and leadership in delivering value to investors in a
challenging macroeconomic environment and through difficult market
conditions. While that's most evident among the mining and energy
firms in this year's list, there were a number of highlights
across all sectors that speak to the importance of venture capital
regardless of economic conditions," added Anastasopoulos.
Highlights from across the sectors include:
- Key role of Latin
America: Half of the mining companies on this year's
list hold properties in Latin
America, a signal of the region's importance for base and
battery metals.
- Resurgent Canadian energy firms: Domestic oil and gas
companies were seen as a source of energy security over the past
year, maintaining strong fundamentals supported by robust commodity
prices.
- Return to value: Investors in diversified industries
pivoted away from growth stocks to value-oriented companies that
increased revenue and cashflow from operations and reported strong
earnings. These companies spanned a variety of sectors including
agricultural materials, construction, retail, financial services,
and media.
- Moving beyond SaaS: Amid a challenging market for the
technology sector, investors sought value in hardware as well as
software. They also looked to companies in a variety of geographic
regions, resulting in a top 10 that includes companies from
the Netherlands, British Columbia, Alberta, Saskatchewan, Ontario, California and Texas.
- Growth of clean tech: Volatile pricing in traditional
energy markets led to strong growth for clean tech companies,
particularly transition-focused firms producing alternative
fuels.
The top-performing 2023 TSX Venture
50® companies from each sector are as follows:
Mining
|
Sigma Lithium
Corporation
(TSXV: SGML)
|
Brazil
|
Energy
|
Southern Energy
Corporation
(TSXV: SOU)
|
Alberta,
Canada
|
Diversified
Industries
|
The Westaim
Corporation
(TSXV: WED)
|
Ontario,
Canada
|
Technology
|
Kraken Robotics
Inc.
(TSXV: PNG)
|
British Columbia,
Canada
|
Clean Tech &
Life Sciences
|
First Hydrogen
Corporation
(TSXV: FHYD)
|
British Columbia,
Canada
|
Market Open Celebration:
For the first time since March
2020, representatives from the 2023 TSX Venture 50 companies
will join TMX executives in-person to celebrate by opening Toronto
Stock Exchange and TSX Venture Exchange. The event will be held
February 21, 2023 at 8:30 am EST in Toronto at the TMX Market Centre located at
120 Adelaide St W.
For detailed results and further information about the ranking
methodology, visit: www.tsx.com/Venture50.
About TMX Group (TSX: X)
TMX Group operates global markets, and builds digital
communities and analytic solutions that facilitate the funding,
growth and success of businesses, traders and investors. TMX
Group's key operations include Toronto Stock Exchange, TSX Venture
Exchange, TSX Alpha Exchange, The Canadian Depository for
Securities, Montréal Exchange, Canadian Derivatives Clearing
Corporation, and Trayport which provide listing markets, trading
markets, clearing facilities, depository services, technology
solutions, data products and other services to the global financial
community. TMX Group is headquartered in Toronto and operates offices across
North America (Montréal, Calgary, Vancouver and New
York), as well as in key international markets including
London, Singapore and Vienna. For more information about TMX Group,
visit our website at www.tmx.com. Follow TMX Group on Twitter:
@TMXGroup.
This news release is not, and should not be construed as an
invitation to purchase the referenced securities or other
securities listed on TSX or TSXV. TMX Group and its affiliates do
not endorse or recommend any of the referenced securities nor
should any statement in this news release be construed as advice
regarding a broad investment strategy. Listing on TSX or TSXV does
not guarantee the future performance of a security or an issuer.
Please seek professional advice to evaluate specific securities.
TSX Venture 50 and Venture 50 are the trademarks of TSX
Inc.
SOURCE TMX Group Limited