The Toronto Stock Exchange today announced that Vancouver’s Counterpath will begin trading as an industrial issuer on the exchange at the the open on Monday, Aug. 20, 2012.
CounterPath, which currently trades on the TSX Venture, will delist from that exchange prior to listing on the TSX. Its trading symbol will remain CCV.
CEO Donovan Jones said: “Graduating from the TSX Venture Exchange to the Toronto Stock Exchange is another milestone for CounterPath, following on the heels of our NASDAQ listing,” adding: “This graduation reflects our Company’s growth and strong financial results, and further underscores our commitment to the Canadian capital markets and our Canadian investor base.”
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Counterpath was founded in 2002, and came to public attention in 2007 when telecom legend Terry Matthews became its chairman, a role he maintains today. After years of building out its suite of patented softphone products, such as Bria and X-Lite (which became the most popular free softphone in the world in 2009 when it reached 340,000 downloads a month), the company’s revenue has begun to climb of late. Counterpath’s recently reported Q3 numbers were a record $3.5-million, which was an increase of 15% over the $3-million it reported in the same period a year prior. In July, the company followed other Terry Matthew’s chaired concerns Mitel and Dragonwave, listing its shares on the Nasdaq.
CounterPath will open trading on Toronto Stock Exchange on August 28, 2012. The Toronto Stock Exchange market opening ceremony will take place from 9:00 am to 9:30 am ET.
Shares of Counterpath on the TSX closed today even at $2.73.