Newstrike Brands (TSXV:HIP) announced a graduation for its stock on the TSX Venture Exchange (TSXV) from Tier 2 to Tier 1 issuer status.
As quoted in the press release:
“Advancing to a Tier 1 listing on the TSXV reflects Newstrike’s continued progress and development as a company with Canada’s legalized adult-use cannabis market fast approaching,” said Jay Wilgar, Chief Executive Officer and Chairman of Newstrike. “We’re excited to reach this listing milestone and we look forward to others as we execute our strategy to build Up Cannabis as a premier adult-use cannabis brand across Canada.”
The TSXV classifies issuers into different tiers based on standards including historical financial performance, stage of development and financial resources. Tier 1 is the TSXV’s premier tier and is reserved for the TSXV’s most advanced issuers.