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TMX POV - TSX/TSXV Issuers Rising to the Challenge in the Battle Against COVID-19

TMX POV - TSX/TSXV Issuers Rising to the Challenge in the Battle Against COVID-19

On behalf of all of us in TMX's Capital Formation division, I want to extend my sincere thanks to the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) listed companies who have taken action to help our communities in the fight against the COVID-19 pandemic.

The economic, social, and health impacts of this pandemic honours no boundaries or borders. Businesses of all types, across all regions of the globe have been thrust into an unprecedented situation and forced to adjust to a new and unfamiliar environment for an indeterminate period of time. Canadian investors have also been hit hard, as valuations took a sharp downturn particularly during the first few weeks in late February and March, as severe volatility reigned over the global marketplace.

In the midst of this profound uncertainty, it has been inspiring to see how quickly Canadian companies have responded to lend crucially-needed assistance for those at most risk. So many have generously donated funds, products and resources to organizations serving on the front lines. And in keeping with our country's spirit of innovation and ingenuity, many businesses have taken a thoughtful and creative approach to contributing where help is needed most: pivoting operations to produce protective equipment and other essential items for healthcare workers, and extending support to displaced employees. Companies providing essential services and infrastructure have also taken important measures to ensure workers are fairly compensated and that Canadians have access to necessities during this crisis. Major retailers have implemented wage increases for employees serving the public on a daily basis and telecommunication companies are taking necessary measures to ensure we stay connected while working and living from home and during this pandemic.

TMX's ongoing commitment to the issuer community

TSX and TSXV are fully and firmly committed to serving the needs of our issuers throughout all market conditions, and especially, during times of crisis. Over the past few weeks, we have introduced relief measures and undertaken advocacy initiatives in support of our issuers, and we continue to work together with all of our stakeholders as the situation evolves.

I want to reiterate our pledge: TMX will never stop advocating on behalf of our listed issuer clients as we all work together to weather the COVID-19 crisis.

Public markets fuel progress. The capital formation process is critical in funding entrepreneurship and innovation while creating jobs for Canadians and fuelling this country's economic growth. We are not at a standstill. Businesses of all sizes across the country are up and running and working as hard as ever - to adapt to the evolving new ‘business unusual' while preparing for a future still yet to clearly enter into focus. As recovery measures begin to take shape, we remain steadfast partners in helping to ensure the better days to come are as bright as possible.


Loui Anastasopoulos, President, Capital Formation, TMX Group

Among the many examples of companies making an immediate and important positive impact:

  • Bausch Health Companies Inc. (TSX: BHC) has initiated a clinical trial program in Canada evaluating an investigational use of its product VIRAZOLE® in combination with standard of care therapy to treat hospitalized adult patients with respiratory distress due to COVID-19.
  • BCE Inc (TSX:BCE) acquired 1.5 million protective face masks to support frontline healthcare and other essential public workers throughout Canada, while Bell has waived extra usage fees on their internet services and roaming fees for its wireless customers.
  • CAE (TSX:CAE) signs a contract with the Government of Canada to manufacture 10,000 life-saving ventilators.
  • Canada Goose (TSX:GOOS) will produce at least 60,000 gowns per week, with plans to deliver up to 1.5 million, at cost, to frontline healthcare workers across Canada.
  • Canadian Tire Corporation (TSX:CTC) donated $5 million for Canada's frontline healthcare and community workers
  • Celestica Inc. (TSX: CLS) is collaborating with Medtronic to produce subassemblies for ventilators which will help the management of patients with severe respiratory illness.
  • Dollarama (TSX:DOL) has increased its employee wages by 10% an hour.
  • Empire Co. Ltd. (TSX:EMP.A), the Canadian company behind grocers Sobeys, Safeway and FreshCo announced grocery employees will receive a weekly $50 bonus, as well as an increase of $2 an hour for employees working more than 20 hours a week.
  • Loblaw Companies Limited (TSX:L) announced a 15% wage increase for retail employees. They've also released $10 million in funding to reach directly into Canadian communities.
  • Magna International Inc. (TSX:MG) has secured 510,000 masks to donate to hospitals across North America. The company is also producing masks at their various production facilities.
  • Metro Inc. (TSX:MRU) increased their employee wages by $2 an hour -- a measure that applies to approximately 50,000 people.
  • Quebecor (TSX:QBR.A) has temporarily removed data caps for Videotron customers, and removed roaming fees for travellers outside of Canada. They're also offering a free preview of many of their specialty channels.
  • Rogers Communications Inc. (TSX:RCI.A) is waiving overage charges for home internet users, and long distance charges for its wireless customers. They're also providing their TV customers with free access to many of their popular channels.
  • Shaw (TSX:SJR.A) has opened its Shaw Go Wifi network to everyone. In addition, they're offering many free channels to their cable and satellite customers.
  • Sleep Country Canada (TSX:ZZZ) has committed $1.5 million in product donations to provide at-risk and vulnerable communities impacted by the COVID-19.
  • Telus (TSX:T) is waiving home Internet overages in Canada and roaming charges for those stranded outside North America, until the end of April.
  • The Valens Company (TSX:VLNS) began production of 1,300 litres of hand sanitizer liquid and plans to distribute 40,000 sanitizer bottles to frontline healthcare workers in Canada.


This article is provided for information purposes only, is not intended to provide any type of advice. This article is not an endorsement or recommendation of any securities or industry referenced herein. Views, comments or opinions expressed in this article are those of their respective contributors only, and are not necessarily endorsed by TMX Group Limited, any of its affiliates or their respective management or employees.

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