Two New TSX-V and CSE Listings Debut in September 2026’s Final Session

Canada’s junior exchanges welcomed two notable new listings on the final trading session of Q3 2026, with NorthShield Uranium Royalties Corp. (TSX-V: NUR) and Axon Diagnostics Inc. (CSE: AXDX) both opening for public trading on September 30. Combined, the two offerings raised approximately $34 million CAD, providing retail investors fresh exposure to a hot commodity cycle and a fast-growing domestic MedTech theme.

NorthShield Uranium Royalties Corp. (TSX-V: NUR)

NorthShield Uranium Royalties Corp. priced its IPO at $1.00 per share on the TSX Venture Exchange, raising $22 million CAD through a brokered offering led by Haywood Securities, with Canaccord Genuity co-underwriting. The Saskatoon-headquartered company acquires royalty and streaming interests on uranium projects across Saskatchewan’s Athabasca Basin — the world’s highest-grade uranium district — and Nunavut. Rather than operating mines directly, NorthShield collects a percentage of revenue or production from partner operators, a capital-light model that has made royalty companies a favoured structure among institutional resource investors. The company entered its first trading session with a portfolio of seven royalty agreements, including a 2% gross revenue royalty on a producing Athabasca project operated by a senior uranium producer.

Institutional demand was described by lead underwriter Haywood as “significantly oversubscribed,” with three Canadian resource-focused funds anchoring the deal at allocations totalling roughly $9 million CAD. A four-month statutory hold period applies to all shares issued under the prospectus, meaning insiders and seed investors cannot sell until January 30, 2027. Retail investors purchasing in the open market on or after September 30 are not subject to any lockup restriction. The minimum board lot is 100 shares at the $1.00 listing price, making entry accessible for accounts as small as $100 CAD.

Axon Diagnostics Inc. (CSE: AXDX)

Axon Diagnostics Inc. listed on the Canadian Securities Exchange at $0.55 per share, raising $12 million CAD through a self-underwritten offering with PI Financial Corp. acting as agent. Axon is a Vancouver-based MedTech company that has developed an AI-driven platform for early detection of traumatic brain injuries (TBI) using standard MRI scan data — no proprietary hardware required. Its software, branded NeuroLens, applies a trained convolutional neural network to existing imaging output and flags micro-structural anomalies that human radiologists can miss in mild TBI cases. The company holds a Health Canada investigational testing authorization and is targeting a Class II medical device submission in Q1 2027.

The offering was supported by two BC-based angel syndicates and a strategic investment from a mid-sized Canadian radiology clinic network, which took a $1.5 million CAD position. Insider shares are subject to a six-month voluntary lockup agreed with PI Financial, locking up approximately 68% of outstanding shares until March 30, 2027. At $0.55 per share and a fully diluted market cap of roughly $27.5 million CAD, Axon is firmly in micro-cap territory — suitable for risk-tolerant investors with a long-term biotech horizon. The CSE listing keeps compliance costs low and is consistent with the exchange’s profile as the preferred venue for early-stage Canadian tech and life sciences companies.

Market Context

Both listings arrived on a flat-to-negative tape: the TSX Composite slipped 0.08% to close at 35,460 on September 30, while U.S. benchmarks also edged lower (S&P 500 down 0.17% to 7,671; NASDAQ off 0.09% to 26,798). The muted broader market didn’t dampen appetite for the two names, which benefited from sector-specific tailwinds — uranium spot prices have remained elevated above US$85/lb through Q3, and AI-in-healthcare has attracted sustained venture and public-market interest across North American exchanges. With the Canadian dollar at 1.4180 USD/CAD, U.S.-dollar-denominated uranium royalty revenues will also translate favourably into CAD reporting currency for NorthShield.