6 www gbr eports c om Glob al Business R eport s PRERELEASE ONT ARIO MINING 2018 Glob al Business R eport s ONT ARIO MINING 2018 PRERELEASE D e a n M c Ph e r s o n H ead Business De v elopmen t Global Mining TMX Gr oup 59 o f the glob al mining financings t ook plac e on the T or ont o S t ock E x chang e and T SX V entur e E x chang e in 2017 Wha t tr ends c an w e e xpec t t o see within the r esour c es sec t or in 20182019 TMX Gr oup s equity mark e t s T or ont o S t ock E x chang e T SX and T SX V entur e E x chang e T SXV ar e glob al le aders in the mining sec t or In 2017 we saw a r e turn of c onfidenc e within the indus tr y with t angible e videnc e Q4 br ought us one of the lar g es t mining IPOs in T SX s 165 ye ar his t or y with over C730 million r aised by Nex a R esour c es a Br azilian c omp any with a dual lis ting on the NY SE T wo o ther signific ant IPOs Er o Copper and Tit an Mining also t ook plac e las t ye ar in addition t o the 10 we saw on T SXV Ano ther indic a t or of the glob al upswing w as the r e turn t o dual lis tings wher e c omp anies lis t ed on the L SE or the ASX ar e looking t o our E x chang es t o ac c ess over C20 trillion in inves t or c apit al The las t time we saw any signific ant IPO ac tivity w as 2012 so ther e is a g ener al enthusiasm r e turning t o the mark e tplac e Ho w has y our p artner ship with the Santiag o E x chang e V entur e s tr engthened r ela tionship s with La tin Americ a o v er the p as t f e w y e ar s The r ela tionship with SEV c ert ainly c ontinues t o s tr engthen and sec ond t o Canada L A T AM is our s tr ong es t mark e t in t erms of c onc entr a tion of c omp anies lis t ed Although our ties wer e alw ays s tr ong the JV showed our c ommitment t o de veloping c apit al mark e t s in the r e gion Comp anies in Eur ope and A sia ar e c ons t antly appr o aching us t o explor e the possibility of cr e a ting a similar model A s the social aspec t of mining bec omes mor e import ant it will be adv ant ag eous when c ommunities c an s t art ac quiring ownership of mining c omp anies exis ting within their socie ty Ther e is intrinsic v alue in tr ying t o build liquidity within our loc al mark e t and by le ver aging our expertise and our r e gula t or y sys t ems t o enc our ag e the de velopment of c apit al mark e t s in o ther c ountries We ar e curr ently looking a t w ays in which we c an exp and and mark e t the SEV JV Wha t r ole ar e CPCs curr ently playing in helping junior s r aise c apit al and wha t o ther models c an junior s use t o g o public The Capit al P ool Comp any pr ogr am CPCs has been a hug e suc c ess f or T SX with 2464 cr e a t ed sinc e the s t art of the pr ogr am 87 of which have c omple t ed qualifying tr ansac tions C urr ently we have 78 CPCs tr ading on T SXV We enc our ag e the CPC as an alt erna tive w ay t o lis t and r ec ently saw Sigma Lithium do a qualifying tr ansac tion t o lis t via the CPC r out e T oday CPCs r epr esent one of f our p a ths c omp anies c an use t o lis t on our E x chang es The alt erna tives ar e IPOs dual lis tings and r e verse t ak eovers R T Os Sinc e the CPC suc c ess we have intr oduc ed Special Purpose Ac quisition Comp anies SP A Cs which ar e the CPC shell c onc ep t but on T SX These op tions give us a unique adv ant ag e c omp ar ed t o our c ompe tit ors Ar e mining c omp anies ac tiv ely looking t o o ther f orms o f financing f or their pr ojec t s such as r o y alty de als Wha t tr ends c an w e see in junior IPOs a t the moment We have seen many r oy alty de als t ak e plac e in the junior sp ac e but it v aries The closer c omp anies ar e t o pr oduc tion and de velopment the e asier it bec omes t o a t tr ac t inves t ors The g ener al sentiment is tha t the up tick in mining financing has been slower f or the junior sec t or given tha t ne w sec t ors such as c annabis and block chain have c aused a dis tr ac tion and t ak en some of the risk c apit al out of the mark e tplac e Many juniors ar e f eeling tha t s tr ess and as a r esult ar e looking a t alt erna t e financing mor e aggr essively Do y ou hav e a final messag e f or GBR s glob al inv es t or r e ader ship Canada is one of the world s bes t jurisdic tions f or mining with Ont ario as a le ading pr ovinc e in the sec t or Ther e is a ver y knowledg e able inves t or pool in Canada fr om ins titutional t o the r e t ail le vel The risk appe tit e t ends t o be s tr ong er than mos t as Canadian inves t ors ar e no t afr aid we know mining we unders t and the risk