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Canadian Stocks/uplist to the TSX

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Question
Hi Steven,
I am currently holding a share to a company that is currently trading at TSX VENTURE.
Recently, the company had released a news that it will now trade at TSX by end of April.

Do i need to sell those stocks? or will it automatically transfer over?

Answer
That is very good news for the Company, as they are moving up the ladder from the Venture to the TSX. Fortunately, you don't have to do anything. Common stock remains the exact same no matter which market it trades on. Many companies trade on multiple markets in different countries, such as the TSX in Canada and the NYSE MKT in the US - the stock that trades on, and is bought and sold, on each Exchange is exactly the same.

There may be times, such as with a stock split or dividend, where the common stock will change. In those cases, the Transfer Agent will usually take care of them automatically, especially if your shares are held in a brokerage account. In rare cases, such as in a takeover or acquisition, you may have to take some action such as vote your shares. When that happens, the Transfer Agent will send you instructions regarding the required action you need to take.

For the uplist to the TSX, you don't need to do anything - the listing for the shares will transfer over, but the common shares you own stay the same.

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Steven Taylor

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Canadian stocks, including growth and resource companies.

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