Expert: Steven Taylor - 10/9/2009

Question
We have some shares in Lobo Gold and Resources (purchased in 1984 through Guaranty Trust Co. of Cda), as well as shares with Almore Explorations Limited (purchased in 1971 also through Guaranty Trust Co.)  I haven't been able to locate information on these 2 companies.  Are they still in business, and are the shares worth anything today?

Answer
Heidi, the two companies are one and the same - Almore merged with other companies to form Lobo. Guarantee Trust wasn't a brokerage firm - they were the transfer agent, so they would have been in charge of the merger and distributing the new shareholders after the merger in 1984.

Lobo went through numerous name changes and reverse stock splits (a 1 for 15, then a 1 for 5, then a 1 for 2# and became Leader Capital. Due to all those reverses, Leader had too many small shareholders so they did a 1 for 50 reverse, followed immediately by a 50 for 1 forward split. Anyone holding over 50 shares was unchanged, but under 50 shareholders received about 25 cents cash per share. If your Lobo certificate was for more than 7500 shares, you would have been OK - otherwise, you may have received a check for the under 50 shares at that time. 2 years later, all remaining shareholders were taken out for 51 cents per share. The transfer agent for Leader was Equity Trust #www.equitytrust.com). I suggest you contact them and see if they have a record of when and where your buyout payment may have been sent.