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You are here: Experts > Money > Investing: Canada > Canadian Stocks > Old Canadian Stocks
Expert: Steven Taylor - 11/4/2009
Question
I too found Allied Roxana Minerals Ltd. stock certificates dated 1971 and I am wondering if they are worth something. I don't see much information on that company on the Internet.
Answer
Nancy, it is possible the shares have some value, but it depends on who the owner of the shares is.
From the information I have available, the Company merged into Cavalier Energy on the basis of 1 Cavalier share for every 3.54 shares of Allied. Cavalier was acquired in 1988 for $9.25 cash per share.
Whoever is the registered owner of the shares might have received a check for the takeover back in 1988. Or, if they did not, the money would have likely been turned over to the government for safekeeping waiting for the owner to claim it. If you are not the owner named on the certificate, then that person (or their heirs) will have to perform a search for the possibly missing money in every State or Province in which that person lived from the time they first acquired the stock until the takeover. Most states (and some Provinces) missing property records can be search online for free at www.naupa.org or www.missingmoney.com (search both site - they have different participants). Search for the name exactly as it appears on the certificate.
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