In this week’s Trade To Black Podcast, TDR Founder Shadd Dales and lead financial writer Benjamin A. Smith interview Richard Carleton, CEO of the Canadian Securities Exchange (CSE). Richard rejoins the program to discuss the current capital markets environment and how the exchange is adapting to shifts in investors and issuer focus.
Richard Carleton was appointed CEO of the Canadian Securities Exchange in July 2011. During his tenure, Richard and the CSE team have positioned the exchange to take a leading role in the provision of public capital to entrepreneurial companies. Since 2014, the CSE has set a series of records for new listings, capital raised by issuers and trading turnover. An early advocate for the cannabis industry, the CSE is the global exchange leader in the sector. Richard is a frequent speaker on early-stage company finance issues around the world.
Trade To Black Podcast Cliffsnotes:
@2:48 2021 was the biggest year on record for IPO listings. Obviously, 2022 will not be as robust with markets in the doldrums. How is the CSE faring with its new listing pipeline? Mining stocks receiving the most interest.
@6:40 What is the sentiment coming into this week for the Prospectors & Developers Association of Canada (PDAC), taking place in Toronto this upcoming week? Richard describes the energy in the room for the CSE pre-PDAC event as “phenomenal”.
@9:29 The CSE was known as the ‘Cannabis Securities Exchange’ a few years back because of an influx of cannabis listings in the late 2010s. But Richard points out that mining companies have been the core of the CSE for most of its history.
@11:30 How do you see the next 12-months in the mining sector from a capital markets perspective?
@15:00 Mining companies getting up to speed with best communications practices.
@16:35 Are younger investors starting to get interested in the mining space, which has traditionally been a bastion for older investors?
@18:23 Elon Musk putting mining on the map.
@19:40 How Richard sees the macro economy playing out.
@21:23 Frustration from cannabis CEOs that the market isn’t realizing their value proposition despite unfair advantages such as 280e.
@24:01 Social equity is a non-starter federally. CAOA Act has some features in it which would not be positive for the legal cannabis market.
@25:03 Any chance Mitch McConnell will change his tune on cannabis should he become the Senate Majority Leader once again?
@27:58 Richard opines on whether he’s surprised many psychedelic companies have run out of money so fast.
@32:35 Has the listing pipeline slowed down for psychedelic companies on the CSE?
To view our previous Trade To Black Podcast, click here.