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VANCOUVER STOCK EXCHANGE FIRST QUARTER MARKET ACTIVITY STRONGEST IN SIX YEARS

 VANCOUVER, British Columbia, April 6 /PRNewswire/ --
 First Quarter 1993
 First quarter market activity in Vancouver reached its highest level since 1987, as share prices gained considerably on vigorous trading.
 Volume for the first quarter increased by 25 percent over the previous three months to 1.3 billion shares, an increase of 19 percent over the same quarter last year. This is the second highest quarterly volume on record, surpassed only by the second quarter of 1987 when volume reached 1.4 billion for the quarter. The value of shares traded rose to $1.4 billion, up 73 percent over the previous quarter and 22 percent over the same period of 1992.
 The Vancouver Stock Exchange (VSE) Composite Index rose steadily throughout the quarter, adding 26 percent to its 1992 year-end value to close at 809.92. This compares to a 7 percent gain for the Toronto Stock Exchange (TSE) 300 Composite, 4 percent for the Dow Jones Industrial Average and 2 percent for the NASDAQ 100 Composite.
 Resource-based stocks were the driving force behind the VSE Composite's gain as the Resource and Venture Indices added 31 and 28 percent, respectively, to their year-end values. The Commercial/Industrial Index followed with an 11 percent gain.
 Financings for the quarter were up 24 percent over the same period of 1992, as an increase in new listings pushed the value of initial public offerings up by 53 percent over the same period last year. Private placements increased by 39 percent as more companies utilized this option as opposed to public offerings, which declined by 66 percent.
 The exchange's Senior Board share of total VSE trading declined marginally to 16 percent of total volume and 38 percent of total value. Trading in the Venture Section outstripped growth in the Resource and Commercial/Industrial Sections.
 The VSE's share of equity trading on all Canadian exchanges decreased marginally from the previous year to 24 percent of the volume and 4 percent of the value.
 Trading on the VSE continued its ascent as March's volume and value of shares traded were the highest since companies exploring in the Eskay Creek region of northern British Columbia inspired a bull market in the summer of 1989.
 At 531 million shares, March's volume was an increase of 25 percent over February and 58 percent over March 1992. The value of shares traded rose by 32 percent over the previous month to $599 million, an increase of 66 percent over last year.
 Financings were up by 53 percent over the previous month as a total of $79 million was raised through VSE facilities. Initial public offerings nearly tripled in value over the previous month to $9.4 million, while public offerings by listed companies more than doubled over the previous month and private placements rose by 39 percent to $67 million.
 The Composite Index recorded its fifth consecutive month-over- month gain during March as continued strength in resource-based issues pushed the Composite up by eight percent to a three-year high of 809.92. The Resource Index surged by 15 percent during March to close at 899.39, its highest close since the inception of the sub- indices in 1990. The Venture Index also contributed to the Composite's gain as it rose by 8 percent while the Commercial/Industrial eased fractionally. At the end of March, the market capitalization of the 1,289 companies included in the Composite Index was $5.0 billion.
 The exchange's senior board maintained its 16 percent share of total volume, while its share of total value slipped to 34 percent.
 Despite all Canadian exchanges experiencing bull markets, the VSE managed to maintain its 4 percent share of the total value of equities traded, while its portion of total volume lowered slightly to 23 percent.
 Of the 1,871 issues listed on the VSE at month-end, 241 posted new highs and 87 posted new lows during the Month. The most active stocks by volume included Adrian Resources (Resource), Swannell Minerals (Venture), Commonwealth Gold (Resource), CanAlaska Resources (Resource) and Incentive Design (Venture).
 Listings
 Four companies listed on the VSE in this month compared to five last month and eight in March 1992. All are classified as Venture companies, and only one is involved in the natural resource industry, reflecting the trend to a more "industrial" based market.
 Of the new listings, London, England-based Tradepoint Financial Networks opened for trading March 1, after completing a financing of some 8 million dollars. The company operates a computerized trading system for equity securities.
 Based in Regina, Saskatchewan, Cypress Petroleum Corp. is engaged in the exploration and development of oil and gas properties. The company listed on March 25.
 Noron Tech Ltd. is an Israel-based company that is developing and marketing a countertop cooking appliance. Noron was posted and called for trading March 25.
 CEM Centry Electronic Monitoring Corp. listed March 30 this year and is an Ontario based company. The company is developing and marketing a device for the medical industry that would allow caregivers of Alzheimers Disease sufferers the ability to monitor the patient's whereabouts within a pre-selected range.
 One reverse take-over occurred during March compared to two last month and two in March 1992. A reverse take-over occurs when an non- listed company acquires a control position of a company already listed on the Exchange. SeaCorp Capital Corp., formerly Canton Ventures Ltd., completed their RTO on March 1. The company is involved in distributing computer aids and devices in Canada.
 One company was upgraded to the Senior Board this month, the same number as last month, compared to four upgraded in March of 1992. Globaltex Industries Inc. is the result of an amalgamation between New Lintex Minerals Ltd., another VSE company, and Willow Creek Coal, a privately held company, and was subsequently upgraded to the Resource Section of the senior board when it resumed trading March 5.
 Sixty-two companies were delisted in March, largely for failure to pay sustaining fees. One hundred and four were delisted in the same month last year, and nine companies were delisted last month.
 -0- 4/6/93
 /CONTACT: David A. Laundy of the Vancouver Stock Exchange, 604-689-3334/


CO: Vancouver Stock Exchange ST: British Columbia IN: SU:

JB-BP -- LA021 -- 3520 04/06/93 15:21 EDT
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Date:Apr 6, 1993
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