Expert: Steven Taylor - 6/13/2009

Question
Hi Steven,

My mother passed a month ago and she left some shares of the Quebec Labrador Development Company Limited taken in 1948, 1949 and 1952. They are countersigned and registered GUARANTY TRUST COMPANY OF CANADA, Montreal, Quebec. Transfer agent and register.
It is also mentioned (no personal liability) and Incorporated under the Quebec Mining Companies Act, not subject to call.

I would like to know if these shares have any value. I found the history of the company on the Net and I wonder if it has anything to do with the existing Labrador Development Company.

I'd appreciate your help on this.

Answer
Anne, unfortunately, from the information I have available, it appears the shares have no relationship to the current Labrador Development Company, nor do they have any current value.

Quebec Labrador did a 2 for 15 reverse split and became Salem Exploration. Salem was acquired by Agena Mining in 1966. Agena had its charter cancelled in 1972. That happens when a company fails to file its regulatory paperwork, and pay its incorporation fees, several years in a row, usually because they are already out of business.