TSXV Revises Definition of Tier 1 Property. Mining Bulletin. Fasken Martineau.
On May 6, 2014, the TSX Venture Exchange (TSXV) amended the definition of “Tier 1 Property” contained in Policy 1.1 – Interpretation of the TSXV Corporate Finance Manual (TSXV Manual).
The TSXV views its Tier 1 as its premier tier reserved for its most advanced issuers with the most significant financial resources. As such, the listing requirements for Tier 1 issuers are more substantial than those of Tier 2 issuers (where the majority of the TSXV’s listed issuers trade). On the other hand however, the TSXV affirms that Tier 1 issuers benefit from decreased filing requirements and improved service standards.
The “Tier 1 Property” definition contained in the TSXV Manual sets out the property-related criteria an issuer must satisfy to qualify to list as a Tier 1 Mining Issuer on the TSXV. The amended definition is not intended to substantially change the nature of this requirement, but instead looks to clarify ambiguities in the previous definition in an effort to provide greater interpretative certainty.