
2025 TSX Venture 50® Ranking
Company Name | Ticker | 2024 Share Price Appreciation | |
---|---|---|---|
Kraken Robotics Inc. | PNG | 323% | |
![]() Kraken Robotics is a marine technology company providing complex subsea sensors, batteries, and robotic systems. Their high-resolution 3D acoustic imaging solutions and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. | |||
Zedcor Inc. | ZDC | 503% | |
Zedcor Inc. is disrupting the traditional physical security industry through its proprietary MobileyeZ™ security towers by providing turnkey and customized mobile surveillance and live monitoring solutions to blue-chip customers across North America. The company continues to expand its established platform of MobileyeZ™ towers in Canada and the United States, with emphasis on industry leading service levels, data-supported efficiency outcomes, and continued innovation. | |||
Sintana Energy Inc. | SEI | 293% | |
Sintana Energy is focused on acquiring, managing and monetizing exposures to oil and gas resource opportunities. The company has most recently been focused on its portfolio of offshore licenses in Namibia. | |||
Power Nickel Inc. | PNPN | 365% | |
Power Nickel is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into potentially Canada's next poly metallic mine. | |||
Montage Gold Corp. | MAU | 193% | |
Montage Gold Corp. is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné project, located in Côte d’Ivoire, at the forefront. Based on the Updated Feasibility Study published in 2024, the Koné project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first eight years and is expected to enter production in Q2 2027. | |||
Founders Metals Inc. | FDR | 196% | |
Founders Metals is a Canadian-based exploration company dedicated to advancing the Antino Gold Project in Suriname, South America, located in the heart of the prolific Guiana Shield. Spanning 20,000 hectares, the fully permitted Antino Gold Project has a rich history of production, with over half a million ounces of gold mined historically. With a highly skilled team of geologists, Founders Metals is employing cutting-edge, scientifically driven exploration techniques to unlock the full potential of Antino. The company is fully funded for 60,000 metres of drilling in 2025, driving its commitment to uncovering significant new gold discoveries. | |||
Simply Better Brands Corp. | SBBC | 395% | |
Simply Better Brands Corp. is a rapidly growing brand accelerator in the global protein-based nutrition category, delivering premium protein products made with clean ingredients, exceptional taste, and a commitment to sustainable health and wellness. | |||
NTG Clarity Networks Inc. | NCI | 866% | |
NTG Clarity is a Canadian publicly traded corporation that provides digital transformation solutions: software development outsourcing and software products. The company has been providing engineering, Information Technology, and networking services and developing niche software products for telecommunications and utilities providers since its start in 1992. They have also expanded into the financial and government sectors, providing technical resources and products to assist customers with digital transformation and other technology projects. | |||
Q2 Metals Corp. | QTWO | 214% | |
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both the Cisco Lithium Project and its 100% owned Mia Lithium Project. | |||
Artemis Gold Inc. | ARTG | 118% | |
Artemis Gold is a well-financed, growth-oriented gold development company aimed at creating shareholder value through the identification, acquisition, and development of gold properties in mining-friendly jurisdictions. The company’s current focus is the construction of the Blackwater Mine in central British Columbia, approximately 160km southwest of Prince George and 450km northeast of Vancouver. The first pour of gold and silver at Blackwater was announced in January 2025. | |||
Neptune Digital Assets Corp. | NDA | 168% | |
Neptune Digital Assets Corp. is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated cutting-edge technology. | |||
American Eagle Gold Corp. | AE | 165% | |
American Eagle Gold is focused on advancing its NAK property located in the Babine Copper-Gold Porphyry district in central British Columbia. NAK is a porphyry copper-gold target that exhibits many signs of a robust and large-scale system. | |||
ATEX Resources Inc. | ATX | 90% | |
ATEX Resources Inc. is exploring the Valeriano Copper Gold project located in the Huasco Province of the Atacama Region of northern Chile. The project is knocking on the door of entering the top 10 ranking of undeveloped copper deposits globally. ATEX recently embarked on its fifth drill program to further expand the already sizeable underground porphyry deposit with optionality closer to surface in high grade breccias, culminating in an upgraded Mineral Resource estimate this year from the Inferred category previously. | |||
Simply Solventless Concentrates Ltd. | HASH | 420% | |
Simply Solventless is a rapidly growing and profitable licensed cannabis producer that provides exceptional and personalized cannabis journeys to discerning cannabis consumers across Canada. | |||
Awale Resources Limited | ARIC | 204% | |
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are ongoing in the underexplored regions of Côte d’Ivoire, where the company is focused on the Odienné Copper-Gold Project, covering 2,489 sq. km across seven permits. This includes 796 sq. km in two permits held under the Awalé-Newmont Joint Venture, managed by Awalé, and funded by Newmont. Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the joint venture and has recently commenced exploration on its 100%-owned properties following a C$11.5M capital raise in April 2024. | |||
Magna Mining Inc. | NICU | 143% | |
Magna Mining is a rapidly growing company that owns multiple advanced stage copper and nickel assets in Sudbury, Ontario, the premier mining district in North America. After an acquisition in 2024, Magna is scheduled to become Canada’s newest copper producing company in Q1 2025. Magna has a pipeline of permitted growth projects and has developed a business strategy with the potential to have three copper-nickel-PGM mines in production within the next three years. | |||
Lumine Group Inc. | LMN | 38% | |
Lumine Group acquires, strengthens, and grows, communications and media software companies. | |||
SPARQ Systems Inc. | SPRQ | 944% | |
SPARQ designs and manufactures next generation single-phase microinverters for residential and commercial solar electric applications. SPARQ has developed a proprietary PV solution that simplifies design and installation, and lowers cost for solar power installations when compared to existing market offerings. | |||
Koryx Copper Inc. | KRY | 400% | |
Koryx Copper Inc. is a Canadian copper development company focused on advancing the 100% owned, Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. | |||
Pulsar Helium Inc. | PLSR | 137% | |
Pulsar Helium Inc. is an explorer and developer of primary helium, with assets in Minnesota (USA) and Greenland. Helium is a scarce commodity used primarily in the tech industry for semiconductor manufacturing, MRI scanners and space launch. | |||
High Tide Inc. | HITI | 108% | |
High Tide is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world’s most powerful plant and is the second-largest cannabis retailer in North America by store count. High Tide is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis. | |||
First Nordic Metals Corp. | FNM | 181% | |
First Nordic Metals Corp. (FNM) is a Canadian-based gold exploration company, consolidating assets in Sweden and Finland, with an aim to create Europe's next gold camp. The company's flagship asset is in northern Sweden, the Barsele Gold Project, a joint venture project with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is 100%-owner of a district-scale license position comprised of three additional project packages which combined with the Barsele Project, total 104,000 hectares on the Gold Line Belt. Additionally, in northern Finland, FNM is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi Greenstone Belt, including the Kylmäkangas gold deposit, the largest known gold occurrence on this belt. | |||
California Nanotechnologies Corp. | CNO | 224% | |
Cal Nano is an advanced materials technology company headquartered in Greater Los Angeles that transforms metallurgic powders into advanced components for Fortune 500 companies and innovative startups across aerospace, energy, defense, and semiconductor industries. | |||
Luca Mining Corp. | LUCA | 77% | |
Luca Mining Corp. is a diversified Canadian mining company with two 100%-owned producing mines within the prolific Sierra Madre mineralized belt in Mexico, which hosts numerous producing and historic mines along its trend. The company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside. | |||
Heliostar Metals Ltd. | HSTR | 118% | |
Heliostar is a gold producer with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and San Agustin Mine in Durango. The company also has a portfolio of development projects in Mexico and the USA.These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA. | |||
Bedford Metals Corp. | BFM | 19% | |
Bedford Metals Corp. is a mineral exploration company. The company creates value for its shareholders by identifying and developing highly prospective mineral exploration opportunities. Their strategy is to advance their projects from discovery to production. | |||
District Metals Corp. | DMX | 135% | |
District Metals Corp.’s mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders. District is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. The Viken Property covers 100% of the Viken Energy Metals Deposit, which is an asset with substantial exploration and development expenditures that resulted in the definition of large historic polymetallic resource estimates in 2010 and 2014. The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historic Falun Mine and Boliden’s Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. | |||
Canalaska Uranium Ltd. | CVV | 81% | |
CanAlaska is a leading explorer of uranium in the Athabasca Basin of Saskatchewan, Canada. With a project generator model, the company has built a portfolio of uranium projects in the Athabasca Basin. CanAlaska owns numerous uranium properties, totaling approximately 500,000 hectares, with clearly defined targets in the Athabasca Basin covering both basement and unconformity uranium deposit potential. The company has recently concentrated on West McArthur ultra high-grade uranium expansion with targets in 2024 leading to significant success at Pike Zone. Fully financed for the upcoming 2025 drill season, CanAlaska is focused on Tier 1 Uranium deposit discovery and delineation in a safe and secure jurisdiction. The company has the right team in place with a track record of discovery, strong partners in Cameco and Denison, and its projects are located next to critical mine and mill infrastructure. | |||
Biorem Inc. | BRM | 205% | |
BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 2,000 installed systems worldwide, BIOREM offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. | |||
Falco Resources Ltd. | FPC | 157% | |
Falco Resources is a Canadian-based development company focused on the exploration and development of high-quality precious and base metal assets in the Abitibi Greenstone Belt, located in Quebec. Their flagship asset is the Horne 5 Project, which is situated in Rouyn-Noranda, a historic mining town. The Horne 5 Project is a significant gold and base metal deposit, which has the potential for long-term mining operations. Falco Resources aims to advance this project by utilizing modern mining practices and environmental stewardship to unlock its full value. The company is committed to delivering long-term shareholder value by leveraging the geological potential of its assets and the expertise of its team. Through its strategic focus on the Abitibi Belt, Falco Resources seeks to capitalize on the region's legacy of producing world-class mining projects while adhering to responsible practices. | |||
Libero Copper & Gold Corporation | LBC | 110% | |
Libero Copper is a mineral exploration company focused on unlocking the value of the Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia. Their highly disciplined and seasoned professional team has a successful track record in discovery, resource development, and permitting in Colombia. With the strategic vision and support of the Fiore Group, Libero Copper is well-positioned for significant growth and value creation. The company prioritizes building strong relationships with the communities in which they operate and are dedicated to creating long-term value for their shareholders through responsible exploration to fuel the green energy future. | |||
Aftermath Silver Ltd. | AAG | 63% | |
Aftermath Silver Ltd. is focused on developing the Berenguela silver-copper-manganese project in Puno province in southern Peru. Berenguela is an open pit mining project with a substantial metal resource, close to rail, road and power. Aftermath's objective is to complete a PEA study for Berenguela within 6-12 months, focusing on the economic case for production of silver, copper and high purity manganese sulphate monohydrate for the battery manufacturing market. | |||
Orogen Royalties Inc. | OGN | 108% | |
Orogen Royalties Inc. is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The company’s royalty portfolio includes the Ermitaño gold and silver mine in Sonora, Mexico (2% NSR royalty) being mined by First Majestic Silver Corp. and the Expanded Silicon gold project (1% NSR royalty) in Nevada, USA, being advanced by AngloGold Ashanti NA. The company is well financed with several projects actively being explored under joint ventures. | |||
Emerita Resources Corp. | EMO | 107% | |
Emerita is a Canadian mineral resources exploration company dedicated to the acquisition, exploration, research and development of prospective mining properties in the Iberian Pyrite Belt (Spain), with a focus on traditional base metals (zinc, lead and copper) and precious metals (silver and gold). The company has a 100% interest in the Iberian Belt West (IBW) project that contains a combined 18.8 Mt maiden mineral resource, including a 14.07 Mt indicated resource at 7.63% ZnEq and a 4.71 Mt inferred resource at 9.29% ZnEq. The company also holds the Nuevo Tintillo project. Emerita is also awaiting a final court decision on the Aznalcóllar mine one of the largest undeveloped zinc assets in the world - that contains the Los Frailes and Aznalcóllar deposits, both former past producing open pit mines. | |||
Homerun Resources Inc. | HMR | 102% | |
Homerun Resources is a materials company specializing in the transformation of silica into essential industrial materials such as solar glass and silicon. The company operates with a comprehensive Three-Phase Strategic Plan aimed at expanding its role in supporting the energy transition. Phase I focuses on securing a reliable supply of high-purity (HPQ) silica to meet the growing global demand for sustainable industrial and green energy applications. Phase II is dedicated to developing infrastructure and logistics, with an emphasis on strategic partnerships to minimize capital expenditure. The final Phase III is centered on revenue generation and vertical integration, as the company aims to deliver HPQ silica to various service organizations while pursuing research and development for competitive advantages in energy transition-related HPQ silica verticals. Homerun Resources is committed to providing high-quality materials through sustainable and responsible practices, fostering a culture of safety, teamwork, and respect for social and environmental standards. | |||
Lavras Gold Corp. | LGC | 134% | |
Lavras Gold Corp. is a Canadian exploration company focused on realizing the potential of its LDS (Lavras do Sul) gold district in Rio Grande do Sul state in southern Brazil. The company, through its local subsidiary, holds directly or indirectly, contractual interests over 34 mineral rights covering approximately 23,000 hectares. In this 12km by 11km gold district, there are more than 24 gold prospects centred on historic gold workings. Lavras Gold has two mineral resources on this property, each with roughly half a million ounces of gold and has also made eight new gold discoveries on this property. Lavras Gold’s ultimate goal is to demonstrate the potential for an economically feasible gold mine and work toward a path to gold production. | |||
Rio2 Limited | RIO | 59% | |
Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. | |||
Midnight Sun Mining Corp. | MMA | 131% | |
Midnight Sun is a Canadian exploration company, focused on transformative copper discoveries in the heart of the Zambian-Congo copper belt. The company aims to discover and develop world-class copper deposits in this prolific mining region. Their property is surrounded by world-class producing copper mines, including Africa’s largest copper producer, Kansanshi, right next door. | |||
Hannan Metals Ltd. | HAN | 278% | |
Hannan Metals is a natural resources and exploration company developing sustainable resources of metals needed to meet the transition to a low carbon economy. | |||
Tornado Infrastructure Equipment Ltd. | TGH | 120% | |
Tornado Infrastructure Equipment Ltd. is a North American leader in the design and manufacturing of advanced hydrovac trucks and infrastructure equipment, with a strong focus on supporting infrastructure development. Headquartered in Calgary, Alberta and operating a production facility in Red Deer, the company provides innovative and customer-focused solutions to the infrastructure, industrial construction, and oil and gas markets. Tornado’s hydrovac trucks utilize high-pressure water and vacuum technology to safely expose critical infrastructure for repair and installation, minimizing damage and enhancing safety. With over 40 years of industry expertise, Tornado is committed to delivering high-quality, reliable equipment to meet the growing demands of modern infrastructure projects. The company is also expanding its product offerings and production capacity to further strengthen its leadership in the infrastructure equipment sector. | |||
Andean Precious Metals Corp. | APM | 84% | |
Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean’s leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving their ambition to be a multi-asset, mid-tier precious metals producer. With a strategic focus on operational excellence and community engagement, the company is well-positioned for continued success and long-term growth. | |||
Bear Creek Mining Corporation | BCM | 89% | |
Bear Creek Mining is a precious metals producer with a world-class silver development asset. Their Corani silver-polymetallic deposit in Puno, Peru is one of the largest fully permitted development stage silver deposits in the world, and their Mercedes mine in Sonora, Mexico is a cash flow generating gold and silver mine with exploration upside. Bear Creek's executives and directors have a substantial breadth and depth of experience discovering, advancing, financing, developing, constructing and operating mines in Latin America and they are committed to excellence in social responsibility, environmental stewardship and good governance. | |||
Covalon Technologies Ltd. | COV | 207% | |
Covalon is a MedTech company dedicated to improving patient outcomes through innovative and compassionate medical products and technologies. Their expertise spans advanced wound care, vascular access, and surgical consumables, with a focus on enhancing healing, reducing healthcare-associated infections (HAIs), and protecting skin integrity. | |||
American Creek Resources Ltd. | AMK | 108% | |
American Creek Resources Ltd. is a Canada-based junior mineral exploration company, which is engaged in the acquisition and exploration of precious metal properties. The company’s flagship Treaty Creek property, located in the Skeena Mining District of northern British Columbia, contains Indicated Mineral Resource of 27.87 million ounces of AuEQ within 730.20 million tonnes at a grade of 1.19 g/t AuEQ; comprised of 21.66 Moz of Au at 0.92 g/t, 128.73 Moz of Ag at 5.48 g/t, and 2.87 billion pounds of Cu at 0.18% and an Inferred Mineral Resource of 6.03 Moz of AuEQ within 149.61 Mt at a grade of 1.25 g/t AuEQ. The company holds a 20% fully carried interest in Treaty Creek until a notice of production if given. The company also owns 100% of the Austruck-Bonanza Property located within the Kamloops Mining Division 53 kilometers northwest of the city of Kamloops in south central British Columbia. | |||
Newcore Gold Ltd. | NCAU | 121% | |
Newcore Gold Ltd. is advancing its 100%-owned Enchi Gold Project in southwest Ghana. The project’s 248 sq km land package covers 40 km of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several large, multi-million-ounce gold mines. A PEA study completed in mid-2024 highlighted the robust economics of developing an open pit, heap leach mine at Enchi, with low capital intensity and strong leverage to the gold price. At a gold price of US$2,350/oz, Enchi has an after-tax NPV5% of US$632 million and 92% IRR. Enchi’s longer-term potential benefits from the district-scale exploration opportunity that is largely underexplored to date with both resource growth potential along strike and at depth. Newcore’s Board and Management team has a strong track-record in the industry and is aligned with shareholders through their 18% equity ownership. | |||
Hydreight Technologies Inc. | NURS | 356% | |
Hydreight Technologies Inc. operates one of the largest mobile clinic networks in the U.S., featuring over 2,500 nurses, 100+ doctors, and a 503B pharmacy network across all 50 states. Its innovative platform streamlines compliance and convenience, providing tools for accounting, documentation, booking, and patient management. This enables healthcare professionals to deliver care independently or add mobile services to existing practices. Hydreight bridges gaps in healthcare delivery with telemedicine, e-script networks, and home, office, or hotel services. | |||
Northstar Clean Technologies Inc. | ROOF | 225% | |
Northstar is a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems, while also extracting aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale with its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar’s mission aims at leading the recovery and reprocessing of asphalt shingles in North America that would otherwise be sent to landfill, addressing numerous stakeholder objectives. | |||
LQWD Technologies Corp. | LQWD | 329% | |
LQWD is a Canadian-based, publicly traded company committed to expanding its Bitcoin Lightning Network transaction infrastructure and liquidity-on-demand services. By leveraging enterprise-grade infrastructure, LQWD supports the rapid growth of the Lightning Network and delivers scalable solutions for the open payments market. With ~157 Bitcoin in its treasury and a debt-free status, LQWD is focused on enhancing shareholder value through its innovative Bitcoin accumulation strategy and yield-generating operations. | |||
NurExone Biologic Inc. | NRX | 110% | |
NurExone Biologic is developing and commercializing their ExoTherapy platform for production of exosome-loaded nanodrugs. Their lead asset, ExoPTEN, is being developed for acute spinal cord injury as well as glaucoma, both of which have already yielded exciting preclinical data. | |||
AbraSilver Resource Corp. | ABRA | 40% | |
AbraSilver Resource Corp. is actively exploring and advancing its large-scale Diablillos silver-gold project, located in the Salta province of Argentina. The company aims to enhance shareholder value through ongoing drilling, resource expansion and potential project development. |

Key Stats

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Ranking Methodology
Starting with 1,605 TSX Venture Exchange (TSXV) listed companies as of December 31, 2024.
The following filters were applied:
- Listed on TSXV (not NEX) on December 31, 2024
- Market capitalization greater than $5 million on December 31, 2024
- Closing share price greater than $0.25 on December 31, 2024
- Closing share price of at least $0.10 on December 31, 2023
- Listed on TSXV more than one year as of December 31, 2024
This left 354 companies that qualified for the 2025 TSX Venture 50 ranking.
These companies were ranked based on an equally-weighted formula with three criteria:
- Share Price: One-year share price change as of December 31, 2024.
- Trading: One-year Canadian consolidated trading value as of December 31, 2024.
- Market Capitalization: One-year market capitalization change as of December 31, 2024.
Historical share prices have been adjusted for stock consolidations/splits.
All currencies reported in Canadian dollars.
TSXV considered companies’ compliance with Exchange Requirements and exercised discretion when determining qualified candidates.
Source: TSX/TSXV Market Intelligence Group