October 24, 2025 – Toronto, ON and Sydney, NSW – The Canadian Securities Exchange (“CSE”) and the National Stock Exchange of Australia (“NSXA”) are pleased to announce that the CSE’s parent company, CNSX Global Markets Inc. (“CNSX Group”), has completed the acquisition of NSX Limited (“NSX”), the parent company of NSXA, for an all-cash consideration of AUD$0.04 per fully paid ordinary share (the “Transaction”). The closing, pursuant to a Scheme of Arrangement, follows the satisfaction of all necessary conditions, including approval of NSX shareholders, finalization of funding and the receipt of regulatory and court approvals. NSX shareholders overwhelmingly supported the Transaction, with 94.78% of votes in favour.
The CNSX Group and NSXA are taking immediate steps to strengthen the NSXA’s competitive position in Australia and build a dynamic exchange alternative tailored to the needs of early-stage companies in Australia and beyond, which include:
- Evaluating options for new technology to upgrade the NSXA’s existing tech stack, in order to provide enhanced functionality and efficiency.
- Building out the NSXA team with strategic new hires to broaden operational capabilities across all business lines, including trading, market data and new listings.
- Anticipated near-term appointment of Richard Carleton to the NSXA’s Board of Directors. As CEO of the CSE, he leads a venture exchange that successfully executed a similar initiative in Canada. He will help oversee the key investments made in the NSXA and the execution of its strategic plan.
“We welcome the successful completion of this transaction and look forward to giving the Australian market what it needs: greater choice for investors to build wealth and a lower cost of capital for companies to fund their growth, especially in the early-stage and venture space,” said Tim Hart, Chairman of NSX. “The addition of the CSE's experience and expertise to our Board and management team will boost the NSXA's ability to offer improved solutions to companies and investors.”
As previously disclosed, the NSXA will continue to be operated locally by its highly skilled and experienced management team, led by Max Cunningham, Managing Director and CEO. CNSX Group will provide financial, technical and strategic support.
“This is a landmark day in the history of the Canadian Securities Exchange, the National Stock Exchange of Australia, and the entire global marketplace for emerging companies,” said Mr. Carleton. “With this acquisition, the NSXA is positioned to replicate the CSE’s success in Canada and provide Australia with a public market platform that better meets the capital formation and liquidity needs of entrepreneurial firms. We are confident that the NSXA is on the cusp of significant growth in corporate listings, to the great benefit of emerging companies and to Australia’s investment community.”
“The partnership with the CSE not only takes the NSXA to the next level of strength and capability, but also significantly enhances the health and competitiveness of Australia's capital markets overall,” said Mr. Cunningham. “And it comes at a perfect time. A recent report from Macquarie Equity Research estimated that nearly 550 companies could potentially list on the NSXA and benefit from our low-cost platform, tailored compliance to suit small and venture-stage companies, customised listing support and broad investor access. The CSE-NSXA partnership seeks to meet the needs of these companies, their investors and others like them, and to provide users of Australia's capital markets with genuine choice for listing, raising capital and building wealth.”
“Another exciting aspect of our partnership is the potential for inter or dual-listing opportunities across our exchanges for Australian, Canadian and global companies, which multiple entities in the mining and early-stage tech space are exploring already,” Mr. Cunningham added.
Following the Transaction, CNSX Group now owns 100% of both the CSE and the NSXA, as well as stakes in Tetra Trust Company (Canada’s first qualified custodian for digital assets) and DealMaker (an online capital raising platform).
About the Canadian Securities Exchange:
The Canadian Securities Exchange is a rapidly growing exchange invested in working with entrepreneurs, innovators and disruptors to access public capital markets in Canada. The Exchange's efficient operating model, advanced technology and competitive fee structure help its listed issuers of all sectors and sizes minimize their cost of capital and enhance global liquidity.
Our client-centric approach and corresponding products and services ensure businesses have the support they need to confidently realize their vision.
The CSE offers global investors access to an innovative collection of growing and mature companies. https://thecse.com/
About NSXA:
The National Stock Exchange of Australia was formed in 1937 as the Newcastle Stock Exchange. It acquired the Bendigo Stock Exchange in 2005 and changed its name to the National Stock Exchange of Australia in 2006. It relocated its headquarters and operations to Sydney in 2016. NSXA has a Tier 1 market operator licence for the listing and trading of equity securities, corporate debt and investment scheme units.
CSE Contact:
James Black
VP, Listings Development
Canadian Securities Exchange
778-847-2071
NSXA Media Enquiries:
Matthew Gibbs
+61 411 121219
FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements” under applicable securities legislation which include statements with respect to the Acquisition and its anticipated effects; the parties’ ability to complete the Acquisition and the timing thereof, the ability to satisfy closing conditions, and receipt of required shareholder and court approvals among others. These statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results. These risks and uncertainties include, without limitation, the possibility that the Acquisition will not be completed on the terms and conditions or on the contemplated timing, and that it may not be completed at all due to a failure to satisfy closing conditions or for other reasons. Actual results may therefore differ materially from those anticipated in the forward-looking statements. CSE does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.
Contact details:
Matthew Gibbs
M: +61 411 121219