Expert: Steven Taylor - 7/26/2009

Question
My grandparents left behind 600 fully paid and non-assessable shares of the par value of one dollar ($1.00) each in the Capital Stock of New Redwood Gold Mines Limited signed on March 13, 1950. (Countersigned and registered Guaranty Trust Company of Canada, Toronto: Transfer Agent and Registrar)

What (if any) is the value of this stock today, and how would a child or grandchild redeem that value?

Thank you for your time and attention.

Answer
Unfortunately, I don't have much information on the Company, and what information there is available is not good.

New Redwood seems to have stopped making their required regulatory filings sometime around the mid-1980's. There has been no sign of the company at all since then. They also made a DTC list from 2005 of inactive securities without transfer agent services, which strongly suggests the company was long out of business at that time.

Guaranty Trust is long out of business, and further evidence suggests there was no transfer agent from that same period onwards. To further investigate the company, I suggest you either contact the Province of Incorporation (listed on the certificate) or contact a broker and see if they can perform a more detailed search for you.