Expert: Steven Taylor - 5/17/2011

Question
QUESTION: My friend has 25 shares of International Kenville Gold Mines Limited stock from the 1960's. The transfer agent is Eastern & Chartered Trust Company, Toronto. Do you know if this might be worth anything?
Thank you,
Alicia

ANSWER: Unfortunately Alicia, from the information I have available, the shares have no current value. The company had its corporate charter cancelled in the early 1980's.

---------- FOLLOW-UP ----------

QUESTION: Thank you for getting back to me so quickly. But, What does that mean exactly?

Answer
A corporate charter is the legal document which creates a corporation. When the charter is cancelled by the government, it means the corporation has ceased to exist. They are usually cancelled only after a company fails to file its required regulatory information (and pay its fees and taxes) for several years in a row, which is usually because the company is already out of business. The cancellation of the charter is simply the official and final confirmation the company is gone.