In 2025, I had the pleasure of attending a bell-ringing ceremony at Nasdaq for Aduro Clean Technologies Inc. (Nasdaq: ADUR). It was an inspiring event that celebrated Aduro’s innovative contributions to the clean technology sector and its growing prominence in the capital markets. Standing on that iconic stage, surrounded by the energy of Times Square, I couldn’t help but reflect on what Canadian companies can do to benefit from exposure to the US capital markets.
Canadian companies often operate in a smaller domestic market compared to their American counterparts, and accessing the US market offers a wealth of opportunities. The sheer size and liquidity of the US capital markets, combined with the diversity of its investor base, make it a strategic destination for companies looking to scale. However, capturing the attention of US investors requires a thoughtful approach. Here are a few strategies that Canadian companies can deploy:
1. Craft a Compelling Narrative
US investors are drawn to stories they can connect with. This is particularly true in sectors like technology, healthcare and clean energy, where innovation and impact resonate deeply and there is a significant retail base eager to vote with their funds for purpose-driven narratives that resonate. To successfully attract attention of US investors, Canadian companies can focus on clearly articulating their value proposition, growth potential and relevance to broader societal or economic trends. For Aduro Clean Technologies, their mission to use the power of chemistry to transform lower value feedstocks, like waste plastics and low-grade renewable oils, into valuable new resources is a story that aligns perfectly with the focus of today’s investors on sustainability, innovation and long-term value creation.
2. Leverage Dual Listings
A dual listing can increase trading volumes and broaden the shareholder base, making it easier for US investors to purchase shares in Canadian companies. Many Canadian companies pursue dual listings on US exchanges, such as Nasdaq or NYSE, to enhance their visibility and accessibility to American investors. It is common for Canadian companies to begin their journey into the US capital markets by listing on OTC Markets Group. OTC offers an accessible entry point due to its less stringent listing and reporting requirements compared to major exchanges, making it an attractive option for smaller or early-stage companies. It’s essential to ensure that any US listing, regardless of the exchange, is supported by an effective investor relations strategy tailored to the US market.
3. Engage Actively on Digital Platforms
Social media and online investment communities play a significant role in shaping retail investor sentiment. Platforms like X, LinkedIn, YouTube and forums like Reddit have become influential channels for disseminating information and engaging with retail audiences. Companies can use these platforms to share updates, educational content and insights that build trust and excitement around their stock.
4. Participate in US Investor Events
Attending and presenting at US-based investor conferences, roadshows and industry events can help Canadian companies establish relationships with retail and institutional investors. These events offer an opportunity to showcase their leadership team, demonstrate expertise and build credibility in a highly competitive market. While selecting the appropriate events largely depends on the company’s desired investor mix and overall calendar, there's a serendipity factor frequently at play when you could meet just one investor who ends up making a difference in the company's growth journey.
5. Adapt Communications to the US Market
Canadian companies must ensure that their messaging resonates with US investors, considering differences in cultural context, regulatory environment and investment priorities. It is critical to develop this messaging with the company’s overall strategy in mind. Communications should align with the expectations of a diverse investor base while staying true to the company's core values and objectives. Consulting with professionals who have expertise in US investor relations can be a game-changer, helping companies navigate complexities, craft compelling narratives and position themselves effectively in a competitive market.
6. Harness the Power of Retail Investors
Retail investors are a significant force in the US capital markets. Their collective influence has grown significantly in recent years, driven by increased access to trading platforms and a heightened interest in direct stock ownership. By actively engaging with retail investors, Canadian companies can foster a broader and more dynamic investor base, complementing institutional support and strengthening market presence. This could include strategic digital content, virtual fireside chats with executives or regular newsletters tailored for a retail audience. Retail investors often seek stories that align with their values or offer promising growth potential. Highlighting your company’s vision and achievements can build loyalty and enthusiasm.
7. Prioritize ESG Transparency
Environmental, Social and Governance (ESG) factors have become a priority for many investors, particularly in the US. Aduro Clean Technologies’ focus on clean technology is a great example of how a strong ESG narrative can capture attention. At the same time, we see heightened scrutiny of ESG, driven by demands from both investors and regulators for verifiable, comparable and accurate ESG data. To stay competitive and attract value-driven investors, companies must prioritize transparent reporting, align with recognized ESG frameworks and demonstrate how their ESG initiatives mitigate risks and create sustainable value.
Attending the Nasdaq bell-ringing ceremony was not just a celebration of Aduro’s achievements but also a reminder of the underexplored potential for Canadian companies in the US capital markets. By crafting a compelling story, leveraging digital platforms and proactively engaging with investors, Canadian companies can position themselves for success south of the border. For those willing to share Canadian innovation on the global stage, the rewards can be transformative.