Evolving Gold Corp Becomes Tier 1 Issuer on the TSX Venture Exchangeadmin
Evolving Gold Corp. announce that it has successfully graduated to the Tier 1 issuer level on the TSX Venture Exchange, effective Monday, November 3, 2008.
As defined in TSXV Policy 2.1, Tier 1 is the TSX Venture Exchange’s premier tier and is reserved for the most advanced listed companies with the most significant financial resources. Tier 1 listed companies also benefit from decreased filing requirements and improved service standards.
The Company wishes to announce its intent to file a Form 15-F today with the U.S. Securities and Exchange Commission (the “SEC”) to voluntary terminate its duty to file reports under the United States Securities Exchange Act of 1934 given the small percentage of trading of the Company’s shares on over-the-counter market in the United States relative to the costs associated with SEC compliance and the relatively small number of US holders of the Company’s shares. The company expects the termination to take effect no later than ninety days after the filing the Form 15-F.
The Company reassures U.S. investors that trading in Evolving Gold securities should not be affected by this change, as the Company’s securities can continue to be traded on the TSX Venture Exchange through their U.S. Brokerage accounts.
All investors in the shares of the company are accorded protection by the Company’s continued compliance with the rules of the TSXV. The Company’s shares of common stock are listed for trading on the TSXV, located in the Province of Ontario, Canada, which constitutes its primary trading market. The Company’s shares of common stock also trade on the Frankfurt Stock Exchange.
The Company will also continue to make publicly available information otherwise provided to its US and other shareholders by filing such information on www.sedar.com, the website of the Canadian Securities Administrators.
Evolving Gold is focused on its discovery property – Rattlesnake Hills, in Wyoming. Assay results for the first three holes reveal an intersection of 2.48 Grams/Tonne over 146 Meters (see press release 9/8/08). The Company has completed a 15 hole, 7,000 meter drilling program on this property with further assay results coming out over the next months.
Evolving has the option to acquire 100% of the Rattlesnake Hills project. Evolving also has 8 other gold properties primarily in Nevada including a lease agreement with Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties) located within the prolific Carlin Gold Trend