Expert: Steven Taylor - 10/7/2010

Question
I recently found a folder containing the following stock certificates from my late husband. Are they of any value? (They do not appear on Toronto or Alberta stock Exchanges.)
Van Horne Gold Exploration Inc,(1983)
Coloma Resources Limited (1982, 1983)
Oracle Resources Ltd (1985)Watson Lake Mines Limited (1983)

Answer
Diane, from the information I have available:

Van Horne went through numerous changes. They merged several times. Under the first, shareholders received 1.1 new shares for each old share. Under the second, shareholders received 1.5 new shares for each old, and under the third, shareholders received 1 new share for 7 old shares. They later did an unusual transaction whereupon shareholders received 1 share of Moss Resources and 1/15 of a share of Yamana for each old share held. The Moss shares are worthless, but the Yamana has value. The stock trades on the NYSE for about $11.30 per share. You need to contact the current transfer agent, CIBC Mellon (www.cibcmellong.com) regarding possible value and getting the old shares reorganized.

Coloma also went through an interesting journey. It merged with a private company which then did a 1 for 30 reverse split. The new company later went public as FirstService Corp, which trades on NASDAQ for about $26 a share. FirstService also did a 2 for 1 forward split. You need to contact the current agent, Equity Trust (www.equitytrust.com).

Oracle became American Eagle Petroleums, which then merged with CS Resources on the basis of $12.50 cash plus 2 shares of CS for every 100 shares of American Eagle held. CS was then acquired by PanCanadian in 1997 for $16 per share cash. If your late husband did not receive the cash and shares from either merger, you need to search the missing property departments of every State or Province in which your husband lived from the time he acquired the shares until the acquisition. You can search many of them online for free at www.missingmoney.com and www.naupa.org (search both). Search using his name exactly as it appears on the front of the certificate.

The Watson Lake shares appear to have no current value. In the early 1990's the company was delisted by the Alberta Stock Exchange, as well as being cease-traded by order of Quebec, Ontario and Alberta. All 3 of those cease-trade orders remain in effect, so the certificate cannot be traded. You should confirm this with a broker.