VANCOUVER, BC, Jan. 7, 2021 /CNW/ - Nova Royalty Corp.("Nova" or the "Company") is pleased to announce that it has been approved for graduation from Tier 2 to Tier 1 issuer status on the TSX Venture Exchange (the "TSXV") effective January 8, 2021.
The TSXV classifies issuers into different tiers based on certain 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 with the most significant financial resources. With the graduation to a Tier 1 listing on the TSXV, the securities of Nova previously deposited into escrow will now be governed by the release provisions of issuers subject to Tier 1 status and released over 18 months(1).
Nova is a royalty company focused on providing investors with exposure to the key building blocks of clean energy – copper and nickel. The Company is headquartered in Vancouver, British Columbia and is listed on the TSX Venture Exchange under the trading symbol "NOVR".
ON BEHALF OF NOVA ROYALTY CORP.,
(signed) "Alex Tsukernik"
President and Chief Executive Officer
Phone: (604) 696-4241
Note 1: the following securities will be immediately releasable: 669,000 common shares, 135,000 warrants, 60,000 options, and 33,000 restricted share units and/or any common shares after the exercise of such convertible securities. The remaining escrowed securities will be releasable as follows: 1,115,000 common shares, 225,000 warrants, 100,000 options, and 55,000 restricted share units will be releasable on April 1, 2021; 1,115,000 common shares, 225,000 warrants, 100,000 options, and 55,000 restricted share units will be releasable on October 1, 2021; and, 1,115,000 common shares, 225,000 warrants, 100,000 options, and 55,000 restricted share units will be releasable on April 1, 2022 (and/or any common shares after the exercise of such convertible securities).
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nova Royalty Corp.
© Canada Newswire, source Canada Newswire English