Canadian Stocks/Old Canadian Penny Stocks
When I was in my salad days (young & green!) I purchased a number of penny stocks from two pushy Toronto, ON brokers Marchment & Mackay Ltd & J. Appleby Securities Limited (who I believe are both out of business now). What would be the best way to find out if there is any value today for the stocks as all the companies have morphed into other companies or cessed to exist. A list is as follows:
Kingscross Resources Inc. - 750 shares purchased in 1983/4
Golden Caribou Explorations Inc. - 1,500 shares purchased in 1983
Gold Hill Resources Ltd. - 500 shares purchased in 1984
Harte Resources Ltd. - 1,400 shares purchased in 1983/4
Raleigh Resources Ltd. - 1,500 shares purchased in 1985
Thank you so much for your help & feedback!
Peter, from the information I have available:
Kingscross went through 2 reverse splits (1 for 3.2 and 1 for 5) and name changes. In 2000, it was taken private - common shareholders received $1.75 cash per share. Based on the reverse splits, you should have received a check for about $82 in 2000. If you did not, the money would have been turned over to the government for safekeeping. You will need to check the missing property offices of every State or Province in which you lived from the time you first acquired the certificates until the buyout. You can check many of the offices online for free at www.missingmoney.com and www.naupa.org.
Golden Caribou also had 2 reverse splits (1 for 3, and another 1 for 3) and became Tenth Power Technologies. Tenth Power was also taken private in May 2013. Common shareholders received 1 cent per share.
Gold Hill has gone through numerous name changes and reverse splits (1 for 1.5, 1 for 5, 1 for 5, 1 for 4, 1 for 2, and 1 for 4) and is now Petro Basin Energy, which trades for about 2 cents per share. You will need to contact the current transfer agent (http://tmxequitytransferservices.com/
) to confirm this information.
Harte Resources is now Harte Gold, which trades for about 8 cents per share on the TSX. You will need to contact the current agent (http://tmxequitytransferservices.com/
) to have your old certificate reorganized.
Raleigh had several name changes and at least 2 reverse splits (1 for 5 and another 1 for 5) and became First Strike Diamonds, which was suspended, cease traded, and delisted in 2003. No current value.