Expert: Steven Taylor - 4/20/2009

Question
I have two old stock certificates purchased by my now deceased father in 1972 and I'm curious as to what happened to them:
PAC Explorations Ltd. and Shilo Mines Ltd.
Anything you could tell me about these would be most appreciated.

Answer
Steven, from the information I have available, it appears both PAC and Shilo merged into Lobo Gold & Resources in 1983. Lobo went through numerous name changes and big reverse splits until it became Leader Capital. Because of all the reverse splits, Leader had thousands of shareholders holding only a few shares, so in 2007 they did a 1 for 50 reverse split followed immediately by a 50 for 1 forward split. Those holding more than 50 shares were unaffected, but those holding under 50 shares were paid cash for their shares. Considering the stock at that time was trading for about 25 cents, we are not talking much money.

I suggest you contact the transfer agent listed on the split, which was Equity Transfer and Trust (www.equitytransfer.com). They should be able to determine how many shares of Leader your father would have had, and if it was under 50, where his cash went. Of course, depending on how many shares of PAC and Shilo he had, he may have been reversed out of existence before Leader even came along, but it is worth an E-mail to Equity at least.