July Edition 2024

14 About 20 Israeli companies listed in Canadian exchanges - 17 by way of an RTO Elad continues: ”Reverse Takeover (RTO) transactions involving Capital Pool Companies on Canada’s TSX Venture Exchange has become an attractive alternative to private funding for pre-revenue tech companies. RTOs have lower thresholds for market capitalization, are more fitting for smaller raises, and are quicker and usually less expensive than an IPO. In the past few years, about 20 Israeli companies listed in Canadian exchanges—and 17 of them were done by way of an RTO. An Israeli success story is Real Brokerage, initially listed on the TSXV mid-2020 with a market cap of CAD $60 million, graduated to the TSX and dual listed on the NASDAQ with a market cap of CAD $300 million. Real Brokerage’s market cap is now close to CAD $1 billion. Another Israeli success story, a company listed in Canada by way of an RTO, that was pre-revenue when listed is NurExone Biologic Inc., a biotech company developing solutions for reversal of nervous system injuries. It listed mid-2022 with a market cap of CAD $12 million and two years later has a market cap of CAD $55 million.” Helping Israeli emerging growth companies list in Canada Jason at Gowling WLG: “Over the past few years, members of our law firm’s Israel Desk have been extremely active in helping emerging growth companies in various sectors raise capital in North America by way of a listing on one of Canada’s stock exchanges including the Toronto Stock Exchange, the TSX Venture Exchange and the Canadian Securities Exchange.” “We have assisted numerous Israeli companies complete successful financings through a listing on these Canadian exchanges and many of these companies eventually graduated to a senior exchange including achieving a dual listing on NASDAQ. We expect this trend to accelerate as global capital markets continue to improve.” Elad at Bennett Jones: “Digitalization is transforming the Canadian economy and there are opportunities for Israeli companies that can enable and accelerate this change. Canada needs to ramp-up its investment when it comes to

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