RE: NGC Graduates to TSX Venture Exchange Tier 1 An issuer listed on Canada's TSX Venture exchange that has significant financial resources and satisfies the exchange's tier 1 listing standards. Such an advanced company or tier 1 issuer benefits from a more favorable regulatory environment and increased opportunity for participation by institutional investors. As the premier tier, there are fewer advanced or tier 1 companies on the TSX Venture exchange than tier 2 companies.
Tier 1 companies have to meet more stringent listing criteria than tier 2 companies on the TSX Venture exchange. For example, in order for a mining company to be classified as a tier 1 issuer, the initial listing requirements include net tangible assets of at least $2 million, a material interest in a tier 1 property, and adequate working capital and financial resources to carry out its stated work program or execute the business plan for 18 months following listing. These are much higher than the requirements for tier 2.