TVI Pacific Inc.said July 13 that it has secured all the approvals to move its listing to the TSXVenture Exchange from the Toronto Stock Exchange, as part of its ongoing initiativeto reduce annual operating costs.
The company has started implementing several cost reduction measuressince the start of the year, including job cuts, deferral of compensation and negotiatingreduced rates for service providers. TVI also deferred its planned Philippine listing to the second halfdue to volatile market conditions.
According to TVI, the listing transfer will further reduce coststhrough lower listing fees. The miner's board also deemed the new listing as "moreappropriate" given the company's current capital structure, market capitalizationand activities.
TVI expects the transfer to be efficient and seamless, with itsshares to continue trading on the TSX until July 29 and to start trading on theTSX-V on Aug. 2.