- Novo Resources (NVO) has received final approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange
- The company’s common shares and purchase warrants will begin trading on the TSX at market open on January 4, 2021
- In other news, Novo Resources has changed its fiscal year end from January 31 to December 31
- The company has done so in order to align its financial reporting period with its industry peers
- Before the market opens, Novo Resources is trading for $2.39 per share
Novo Resources (NVO) has received final approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange.
The mining company received conditional approval for the TSX listing earlier this month, on December 18. At the time, Novo Resources described its move as an opportunity to enhance liquidity in its stock, and extend the company’s appeal to the international investment community.
Having met the TSX’s standard listing conditions, Novo Resource will now begin the process to delist from the TSXV and begin trading on the more senior exchange. December 31, 2020, will be the last day that the company’s securities are traded on the TSXV.
Novo Resources’ common shares and 8,596,184 common share purchase warrants will start trading on the TSX in the new year, at market open on January 4, 2021. The over 8 million common share purchase warrants were issued pursuant to the company’s brokered and non-brokered private placements from August of this year.
Despite the transition to the TSX, the company’s shares and warrants will continue trading under their current ticker codes, NVO and NVO.WT respectively. Additionally, the company’s shares will continue to list on the OTCQX under the ticker code NSRPF.
In other news, Novo Resources has announced the change of its fiscal year end date, from January 31 to December 31. The company has implemented this change, in order to align its financial reporting period with those of its peers in the industry.
Before the market opens, Novo Resources is trading for $2.39 per share.
