TORONTO, September 14, 2009 – DundeeWealth Inc. (“DundeeWealth”) today announced that it has made a strategic investment in CNSX Markets Inc. (“CNSX Markets”).
CNSX Markets is a privately held Canadian company that operates two markets, The Canadian National Stock Exchange (“CNSX”) and Pure Trading. In operation since July 2003, CNSX is the only new stock exchange to be introduced in Canada in the last 70 years and has been enjoying strong growth in its listings business. In the last five months, 17 new listings have joined CNSX, many of which have migrated from the other Canadian exchanges.
“CNSX provides a valuable alternative to issuers and complements other corporate finance and trading initiatives in place in our Capital Markets division,” said DundeeWealth President and Chief Executive Officer David Goodman.
“The CNSX value proposition is clearly resonating within the issuer and advisory communities,” said Ian Bandeen, Chief Executive Officer of CNSX Markets. “DundeeWealth’s investment reflects the growing relationship with the Dundee group that began with the listing of Eurogas International, one of Dundee Corporation’s subsidiary companies, on CNSX in April, 2009. The additional financial and strategic resources that DundeeWealth is delivering will allow us to leverage our strengthening position and facilitate the broader acceptance of an exceptional product”.
Joanne Ferstman, Vice-Chair and Head of Capital Markets at DundeeWealth added, “As a strategic initiative, our investment recognizes both CNSX’s streamlined regulatory model, which combines improved market integrity and its enhanced disclosure regime with a simplified listings process that saves both time and money, as well as its leading-edge electronic trading platform which can bring significant future prospects to its business. In our view, CNSX is the market of the future and we are delighted to be able to play a more significant role in its business development.”
About DundeeWealth:
DundeeWealth is a Canadian owned, independent wealth management company that oversees $62.5 billion in fee earning assets. It provides diversified wealth management and investment solutions including alternative and tax-advantaged products, capital markets and advisory services to financial advisors, institutions, corporations and foundations, and innovative wealth management through independent financial advisors across Canada. Its award winning investment brand, Dynamic Funds™, managed by Goodman & Company, Investment Counsel Ltd., is also available outside of Canada through distribution platforms in Europe and the United States. DundeeWealth is listed on the Toronto Stock Exchange (TSX: DW).
