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Skeena Resources (TSXV:SKE) has been approved for graduation from Tier 2 to Tier 1 issuer status by the TSX Venture. As quoted in the press release: Skeena commenced trading as a Tier 1 issuer on the TSXV on May 9, 2016. Tier 1 is the Exchange’s premier tier and is reserved for the Exchange’s most …
Skeena Resources (TSXV:SKE) has been approved for graduation from Tier 2 to Tier 1 issuer status by the TSX Venture.
As quoted in the press release:
Skeena commenced trading as a Tier 1 issuer on the TSXV on May 9, 2016. Tier 1 is the Exchange’s premier tier and is reserved for the Exchange’s most advanced issuers with the most significant financial resources. Tier 1 issuers benefit from decreased filing requirements and improved service standards.
As a result of Skeena’s graduation to Tier 1, the common shares of Skeena previously deposited in escrow pursuant to the rules of the TSXV under an escrow agreement dated October 27, 2014 (the “Escrow Agreement”) are now governed by the release provisions of “Tier 1 Value Escrow” as set out in Schedule B(1) to Form 5D of the TSXV. As a result, up to 99,002,452 common shares, 400,000 options and 200,000 warrants previously held under the Escrow Agreement may be released from escrow in accordance with the terms of the Escrow Agreement. While these shares may be released from escrow, a total of 83,105,147 Skeena shares held by Eilat Exploration Ltd. and Keewatin Consultants (2002) Inc., vendors of the Spectrum property, remain subject to the terms of a Pooling Agreement dated April 14, 2014 and certain court orders.