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You are here: Experts > Money > Investing: Canada > Canadian Stocks > Nolan Lake Explorations
Expert: Steven Taylor - 11/4/2009
Question
In Oct./1979, I purchased 500 shares in Nolan Lake Explorations and Durham Securities were the underwriter. I have attempted to find info on this stock & was unsuccessful. Also, between my wife & I, we purchased 16,000 shares of H.P.Y. Resources(formerly Happy Resources). I understand there was illegal activity by the director(s)and the stock lost value Could you advise me if there is any value in eiother stock today? Were they perhaps picked up as shell companies? Any help would be greatly appreciated.
Answer
From the information I have available:
Nolan Lake has gone through at least 5 name changes and 2 reverse stock splits (a 1 for 5, then a 1 for 10). It is now White Pine Resources, which trades on the TSX Venture Exchange for about 35 cents per share. Your original 500 Nolan would now be 10 White Pine, worth about $3.50. I suggest you contact the current Transfer Agent, Equity Transfer (www.equitytransfer.com) to confirm this information.
Happy Resources did become HPY Industries before lawsuits and such. I believe it is still HPY Industries, as the VSE delisted it back in 1991 after B.C. hit it with a cease-trade order in 1989 (which is still in effect). I don't have any indication it was ever relisted anywhere, or successfully changed its name, as there are still current references to their existence in Vancouver. You might consider consulting a broker and see if they can find any additional information.
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