- Novo Resources (NVO) has received conditional approval to move from the TSX-Venture exchange and onto the TSX
- However, the final approval is still dependent on Novo meeting the TSX’s standard listing conditions
- The company made the move to “enhance liquidity of Novo’s stock and extend Novo’s appeal to the international investment community”
- Once listed, the company will continue to trade under the ticker code “NVO”
- Novo Resources is currently 9.77 per cent up for C$2.36 per share
Novo Resources (NVO) has received conditional approval to move from the TSX-Venture exchange and onto the TSX.
However, the final approval is still dependent on Novo meeting the TSX’s standard listing conditions. Once listed, the company will continue to trade under the ticker code “NVO”.
The company made the move, after 10 years on the TSXV, in order to “enhance liquidity of Novo’s stock and extend Novo’s appeal to the international investment community.”
Dr. Quinton Hennigh, Chairman, President, and a director of Novo, comment on this significant milestone for the company,
“I would like to thank the TSXV for its years of continuous support after accepting Novo’s listing in May 2015. Given Novo’s international exposure, we believe it is time to graduate to the TSX, one of the premier exchanges for publicly traded companies,” he said.
The approval caps a roller-coaster ride for Novo shares this year. Starting out in January at just under $4 apiece, Novo shares plummeted at the onset of the COVID-19 pandemic to be valued at just $1.50 in mid-March, before heading back up to a high of $4.09 in July.
Since then, the company’s shares have once again began to sink and are currently trading around 40 per cent down on its price at the start of the year.
The company is currently developing its flagship Beatons Creek gold project to production.
In trading today, Novo shares are back on the rise and are currently 9.77 per cent up for C$2.36 per share at 1:44pm EST.