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CNQ Sets Launch For July 25, 2003

CNQ, 5/15/2003

Thursday, May 15, 2003 (TORONTO) – The Canadian Trading and Quotation System Inc. (CNQ), Canada’s newest equity market, announced today its official launch and first day of trading will be Friday, July 25, 2003. CNQ will provide an automated, well regulated and transparent marketplace for emerging public companies, investment dealers and investors.

“After passing many regulatory and technological milestones in the past year, CNQ’s team is delighted to announce its official launch date,” Robert Cook, CEO, CNQ. “The dealer community has been very supportive of CNQ’s initiative over the past year and we received a very positive response from Issuers on the CNQ road show last month.”

The sign-up of Investment Dealer Association of Canada members is continuing and CNQ is pleased to confirm that to date Byron Securities Ltd., Canaccord Capital Corporation, Scotia Capital Inc., TD Securities Inc. and W.D. Latimer Co. Limited will be participating. As more dealers are approved, this information will be made available on CNQ’s website at CNQ expects up to 20 dealers will be participating by launch.

“We are pleased to see that this innovative, alternative marketplace is now available to junior companies and we believe competition amongst the exchanges will improve service to issuers and investors,” Michael Greenwood, President, Canaccord Capital Corporation.

CNQ is currently accepting and processing applications for quotation from issuers to ensure that they will be ready to trade on opening day.

“The Issuer approval process takes approximately 20 business days so applications received before June 26, 2003 should have their review completed prior to launch,” Mark Faulkner, Manager, Quotations, CNQ.

Canadian Trading and Quotation System Inc. (CNQ) has created a unique market model, matching enhanced disclosure and streamlined regulation with leading edge technology to meet the needs and characteristics of emerging companies. This combined with comprehensive regulatory oversight provides an efficient new marketplace that fosters integrity, transparency and liquidity for trading equity securities.

To obtain a CNQ Issuer Application Please Contact: Radhika Joseph at [email protected] or 416-572-2000 Ext.2435.

To obtain a CNQ Dealer Application Please Contact: Natasha Blackburn at [email protected] or 416-572-2000 Ext.2478.


For Further Information Please Visit or Contact:

Natasha Blackburn, Business Development/Communications

Canadian Trading and Quotation System Inc.

[email protected] 416-572-2000 Ext. 2478