Expert: Steven Taylor - 8/5/2009

Question
I currently came across 1000 shares that were purchased in 1987 for Glen Roy Resources Inc. and 1000 shares that were purchased in 1987 for Chetwynd resources Inc. Are they still around and are the shares any good?

Answer
Veronica, from the information I have available, this is what I found:

Chetwynd was dissolved in 1994, and I don't believe there was any value left for shareholders.

Glen Roy did a merger in 2000 and became Rx Neutriceuticals. Glen Roy shareholders received 1 share of Rx for each 6 shares of Glen Roy held. Glen Roy shareholders were scheduled to receive shares of a new company which was to hold the old Glen Roy mineral properties, but I don't know if that ever happened.  As the name suggests, Rx was in the nutritional products field, but that did not last long and they moved back into mineral exploration a few years later. The Company then did a 1 for 10 reverse stock split and changed its name to Rx Exploration Inc., which currently trades on the CNQ under the symbol RXE for about 21 cents per share.

Unfortunately, if my ratio information is correct, it looks like the original 1000 shares of Glen Roy is now 16 shares of Rx worth less than $4. It would likely cost you more than that to have the transfer agent reorganize the old Glen Roy shares into the new Rx shares, but you should contact them anyway to at least confirm this information. The agent is Equity Transfer (www.equitytransfer.com).