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You are here: Experts > Money > Investing: Canada > Canadian Stocks > summit gold mines inc.
Expert: Steven Taylor
Date: 5/11/2008
Subject: summit gold mines inc.
Question
my dad had purchased shares in the Summit Gold Mines Inc. from M. Rash & co. limited. Is this still of any value or was this a dad deal. I can`t find any info on summit gold mines inc.
Answer
Unfortunately, it seems there is no value today, but I believe there was at one time. If my information is correct, Summit merged with private Paragon Entertainment, and changed its name to Paragon. Paragon listed on the Toronto Stock Exchange under the symbol "P". Paragon was a producer of TV and movies, and had some well-known units, such as Handmade Films. The company and stock did well for awhile, but ran into serious financial trouble in 1998/1999, went insolvent, was delisted by the exchange, and had a cease-trade order slapped on it. The Ontario cease-trade order remains in effect, but due to the insolvency, the stock is most likely dead.
In order to confirm this information, I highly recommend you contact a broker with the certificate and have them perform a more detailed search for you. M. Rash, as with the other notorious Ontario penny stock dealers, sold very small and very obscure companies, so it is a very good idea to confirm the information.
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