CSE 25 rebalance brings in AI, cannabis and copper names

The CSE 25 Index added three new companies in AI, cannabis and mining as part of its quarterly rebalancing on June 19.

The index – the 25 largest companies by market capitalization on the Canadian Securities Exchange (CSE) – now includes AI-driven R&D accelerator Redwood AI Corp. (CSE:AIRX), cannabis producer Grown Rogue International Inc. (CSE:GRIN, OTC:GRUSF) and copper project developer Lion Copper and Gold Corp (OTCQB:LCGMF, FRA:QR20, CSE:LEO).

Joining the index’s technology cohort is Redwood AI, which applies artificial intelligence to chemistry research and development, with applications spanning drug discovery, defense, and safety solutions.

The company announced in June that it has signed a non-binding letter of intent with Dr Placide Sesonga of The University of Global Health Equity in Rwanda to support development of an AI-enabled initiative focused on strengthening preparedness and early detection capabilities for emerging and re-emerging infectious diseases across Central and East Africa.

The initiative is expected to initially focus on high-priority surveillance regions and mobility corridors within Rwanda and the Democratic Republic of the Congo (DRC). The recent Ebola outbreak in eastern DRC and neighbouring countries was cited as a catalyst for the discussions. Binding agreements remain subject to further negotiation.

On the life sciences side, cannabis producer Grown Rogue International brings real financial momentum to the index. The company, which operates in Oregon, Michigan and New Jersey with expansion underway in Minnesota and Illinois, posted first-quarter revenue of US$9.2 million, up about 28% from $7.2 million a year earlier and driven largely by growth in New Jersey. Adjusted EBITDA climbed to roughly $1.6 million from $1.2 million, though a GAAP net loss of $2.2 million, tied to non-cash fair value losses, marked a reversal from net income of $0.7 million in the prior-year period. The company also raised its 2026 revenue guidance to a range of $34 million to $37 million.

Rounding out the new members is Lion Copper and Gold, entering under mining. The company is advancing its Yerington copper project in Nevada through an earn-in agreement with Nuton, a Rio Tinto venture founded on extensive copper leach technology research.  The company also said it has completed the engagement of consultants need to deliver a definitive feasibility study for the Yerington copper project.

The additions follow a period of strong performance for the CSE25, which rose 6.1% over the past month, 18% over three months, 12.7% over six months and 77.7% over the trailing year.

The index holds 25 companies with a combined portfolio capitalization of C$32.5 billion. Average company size stands at $1.3 billion, with the largest constituent valued at $22.8 billion and the median at $160.4 million. The top five holdings account for 87.9% of total index weight.

By sector, life sciences carried the largest weighting at 81.3%, followed by technology at 9%, mining at 6.1% and diversified industries at 3.6%.

The CSE 25 Index is reconstituted on the third Friday of March, June, September and December based on its standard eligibility and deletion criteria.