Examples of Tier 1 Issuer in a sentence
The Company’s shares trade on the TSX Venture Exchange as a Tier 1 Issuer under the symbol IPT and on the Frankfurt Stock Exchange under the symbol IKL.
An accelerated escrow release will not commence until the Resulting Issuer has made application to the Exchange for listing as a Tier 1 Issuer and the Exchange has issued a bulletin that announces the acceptance for listing of the Resulting Issuer on Tier 1 of the Exchange.
In the event that the classification of the Company on the Exchange is upgraded to that of a Tier 1 Issuer or equivalent designation, or the Shares are no longer listed on the Exchange, the Board may, in its sole discretion at the time the Option is awarded, but will not be required to, impose conditions relating to the vesting of the right to exercise an Option awarded to any Option Holder.
Effective November 4, 2020, Artemis graduated to Tier 1 Issuer status on the TSXV.
Under the terms of the escrow (which was amended when the Company was reclassified a Tier 1 Issuer in August 2002), 3,789,662 escrow shares will be released each six months over 18 months, commencing January 18, 2002, with the final release on July 18, 2003.
In the case of a Resulting Issuer that will be a Tier 1 Issuer when the Final Exchange Bulletin is issued, the Value Security Escrow Agreement provides for an 18 month escrow release mechanism with 25% of the escrowed securities being releasable at the time of the Final Exchange Bulletin, and 25% of the escrowed securities being releasable every 6 months thereafter.
The period or periods during which Options may be exercisable shall be fixed by resolution of the Board, provided that no such period or periods shall be exercisable more than five years from the date of grant when the Corporation is a Tier 2 Issuer and 10 years when the Corporation is a Tier 1 Issuer.
If the Issuer reasonably believes that it meets the Minimum Listing Requirements of a Tier 1 Issuer as described in Policy 2.1 – Minimum Listing Requirements, the Issuer may make application to the Exchange in accordance with Exchange Policy to be listed as a Tier 1 Issuer and shall concurrently provide notice to the Escrow Agent of such application.
No more than 5% of the issued Common Shares may be granted to any one individual in any 12 month period, unless the Corporation becomes a Tier 1 Issuer and has obtained disinterested shareholders approval.
All Options granted under the Plan shall expire not later than five years from the date of grant of such Options when the Corporation is a Tier 2 Issuer or 10 years from the date of the grant when the Corporation is a Tier 1 Issuer; and the Options may be exercised by the Optionee in such varying percentages, on a cumulative basis, during the term of the Option Agreement as the Board may determine and specify in the Option Agreement.