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The TSX Venture Exchange is the most important venture capital market in the world that nobody talks about properly. It’s the incubator that graduated companies like Real Brokerage, Hamilton Thorne, and countless mid-cap producers. It’s the exchange where, in 2025, the top 50 performers in mining alone delivered 142% average share price appreciation and 255% average market cap growth. In the last five years, 55 US companies have listed on TSXV to access public venture capital, raising C$7.8 billion through 490 financings.
And yet across mining, cleantech, life sciences, energy, and technology the vast majority of TSXV-listed companies share the same structural problem.
Nobody knows they exist.
We’re Outliers. We’re a strategic communications and technology partner, and we built this company to fix that exact problem. We started in mining because that’s where we saw the sharpest disconnect between asset quality and market awareness. But what we’ve learned is that the visibility gap runs across every sector on the TSXV and the TSX. And with PDAC weeks away, capital rotating back into small caps, and Ottawa’s multi-billion-dollar Critical Minerals Strategy accelerating the window for fixing it is open right now.
The TSXV Paradox
The TSXV is purpose-built for growth-stage companies. It gives pre-revenue businesses access to public capital at a stage that exchanges like the NYSE, LSE, or Nasdaq won’t touch. Typical financings range from C$2 million to C$25 million. There’s a dedicated ecosystem of retail and institutional investors, investment bankers, and analysts specifically attuned to small-cap stocks. Companies that hit milestones can graduate to the TSX and eventually cross-list on a major US exchange. The infrastructure exists.
But here’s the paradox: the same accessibility that makes the TSXV powerful also makes it crowded. When capital has concentrated around a narrow group of mega-cap winners on the TSX financials, materials, industrials liquidity gets drawn away from the venture end. And on the TSXV itself, the gap is widening between issuers who hit milestones and communicate clearly, and those perceived as perpetual “story stocks.” That’s not our characterisation. That’s what the data shows.
Governance, transparency, and execution are now central to whether issuers attract support. But there’s a fourth factor that doesn’t show up in the compliance filings: narrative. The companies that break out are the ones that built a story the market could find, understand, and believe in before the catalyst arrived.
Five Sectors, One Problem
The TSXV’s Venture 50 programme tracks top performers across five sectors: mining, energy, clean technology and life sciences, diversified industries, and technology. We’ve been watching all five. The visibility problem doesn’t discriminate.
Mining. This is our home base, and it’s where the problem is most visible. Canada’s Critical Minerals Strategy has committed billions to secure supply chains for copper, nickel, lithium, graphite, cobalt, and rare earths. Demand for key critical minerals could increase between 3x and 90x by 2050. The policy tailwind is massive. Gold is above US$5,000. Copper is in structural deficit. And yet most junior mining companies on the TSXV are walking into PDAC with the same deck they used two years ago, a website that doesn’t work on mobile, and no content strategy beyond press releases that get read by 40 people. The 31 mining companies in the 2025 Venture 50 averaged 142% share price gains. The other several hundred mining companies on the exchange? Most of them are still waiting to be discovered.
Clean technology and life sciences. Canada is positioning itself as a global cleantech leader, backed by supportive policy frameworks and abundant natural resources. The TSX and TSXV list leading cleantech companies from Canada and around the world. But the space is crowded. If you’re a carbon capture company or a battery recycler or a biotech with a Phase 2 readout coming, your competitive moat might be genuine but if your digital presence lacks, the generalist investor moves to the next company that grants their attention. Clinical milestones don’t move share prices if nobody’s following the story before the data drops.
Energy. The energy transition is creating new categories of company that don’t fit neatly into the old oil-and-gas communications playbook. Hydrogen, small modular reactors, carbon credits, uranium these stories require a different kind of investor narrative. One that bridges technical credibility with macro positioning.
Technology and diversified industries. TSXV tech companies compete for capital against a global benchmark set by Nasdaq. AI-adjacent businesses, SaaS companies, and defence tech firms listed in Canada face the same challenge: investors comparing them to US peers expect the same standard of presentation, storytelling, and digital presence. The companies on the TSXV that bounce back like the technology issuers in the Venture 50 are the ones whose narrative infrastructure matched their fundamentals.
Short Windows, High Stakes
Here’s what makes the TSXV different from larger exchanges: the windows for raising equity or executing M&A are short and competitive. The cost of capital remains elevated compared to the last decade. Risk appetite for small-cap equities can shift quickly. When the window opens, you need to be ready not scrambling to update your website while your peers are closing placements.
The companies that raise well the ones getting placements done with less dilution, attracting strategic investors, and building the kind of register that supports a graduation to the TSX are the ones who invested in their communications infrastructure before the window opened. They have a brand that signals credibility. A digital investor hub that converts curiosity into conviction. Content that keeps them in the conversation between milestones. And a distribution strategy that puts their story in front of the right people at the right time.
The ones who don’t? They’re still sitting in the penalty box, watching their peers get funded.
PDAC Is Weeks Away. Are You Ready?
PDAC 2026 runs March 1–4 in Toronto. It’s the biggest mining convention in the world, and it’s the single highest-concentration moment of capital, deal flow, and investor attention in the Canadian resource calendar. Every junior on the TSXV will be there. Most of them will hand out the same materials, make the same pitch, and go home without a meaningful new investor relationship.
The companies that stand out at PDAC the ones that turn a 10-minute booth conversation into a follow-up, a follow-up into due diligence, and due diligence into capital are the ones whose story was already working before they arrived. Their website was already institutional-grade. Their deck was already compelling. Their LinkedIn was already active. Their video content was already circulating. PDAC doesn’t create momentum. It amplifies whatever momentum you already have.
And this applies beyond mining. Every sector has its PDAC equivalent the conference, the roadshow, the investor day where you get 72 hours to make an impression. If your brand and communications aren’t ready when that window opens, you’re leaving capital on the table.
Where We Come In
We’re not an IR firm that sends email blasts. We’re not a design shop that makes things look nice without understanding what they need to say. We’re a strategic communications and technology partner that understands capital markets from the inside because we participate in them every day.
We run a community and are part of many across different platforms. We publish macro analysis that tens of thousands of people read. We trade. We understand commodity cycles, central bank policy, and how capital actually moves. When we build a brand, a website, or a content strategy for a TSXV-listed company, we’re building it as people who know what makes an investor stop scrolling and start reading.
Our founders have built communications for Mastercard, Lloyds Bank, London Stock Exchange, Cambridge University, and Biogen. We bring enterprise-grade standards to venture-stage companies. And we’re young enough to understand that the next generation of capital allocators discovers companies on their phones at midnight, not at a conference booth.
What we deliver: Complete brand systems that signal credibility from the first click. Digital investor hubs built as conversion tools, not compliance exercises. On-site content production with cinema-grade equipment we travel to your project, your facility, your jurisdiction and capture the story properly. Content strategies that keep your company visible between milestones. And distribution through our own platforms, networks, and investor community.
We’re already working with TSXV companies ahead of PDAC, Frankfurt dual listings, and pre-IPO raises. We’re expanding across mining, cleantech, life sciences, and energy. The problems are the same across sectors. The solutions are the same. And the companies that invest in their communications infrastructure now before the next financing window opens will be the ones that capture the capital when it arrives.
The TSXV Deserves Better
The TSXV is one of the most important exchanges in the world for early-stage companies. It’s an engine of Canadian innovation across mining, energy, cleantech, biotech, and technology. The companies listed on it are building real things developing critical mineral deposits, advancing clinical pipelines, commercialising breakthrough technologies, securing the energy transition.
They deserve communications that match what they’re building. Most of them don’t have it. That’s not a criticism it’s an opportunity. And it’s exactly the opportunity Outliers was built to capture.
If you’re a TSX or TSXV company with a great story that the market hasn’t found yet in any sector we should talk. Not because we want to tell you what’s wrong. Because we already know what’s possible.
We Are Outliers. Strategic communications and technology for companies the market hasn’t found yet.
