Expert: Steven Taylor - 8/19/2011

Question
QUESTION: Yes sir my name is Pedro Barrera and my Dad Bought in April 16, 1958 100 shares  is this certificate valid??? Jilbie mining company limited. it has a number of  0587 and on side it has  the Toronto general trusts corporation , Toronto Canada My dad passed away over 10 years ago and these happen to surface among his things! Thank you! Pedro

ANSWER: Pedro, unfortunately, from the information I have available, the shares have no current value. The Company had its charter cancelled and was dissolved in the mid-1970's.

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QUESTION: Wasn't the company bought by someone else? If this is true then the shares carry over don't they?

Answer
Pedro, when a company has its charter cancelled, it means the company did not pay its taxes and file its required regulatory paperwork, usually because they are already long out of business. That means the company is forcibly dissolved and is dead. In extremely rare cases, new management can take over and cure the problems by paying the overdue taxes, fees and penalties and go back and file the overdue paperwork. However, there is no evidence that happened in this case. From the information I have available, the company was involuntarily dissolved in the mid-1970's and ceased to exist at that time. Nowhere in any of the information I have does it show any kind of takeover or merger - just the cancellation of the charter and dissolution.

I suggest you contact a broker and have them perform a detailed search to confirm this information.