Canadian Stocks/Old Stocks
My father-in-law has just passed away and left behind stock certificates as follows: 250 Flowerman Group Inc shares, 1,000 Pacific Energy Systems Ltd. and 1,500 Afton Food Group Ltd. Are any of these still valid?
Joan, from the information I have available:
Flowerman changed its name to Nova Growth and did a 1 for 4 reverse split. They later did a further 1 for 10 reverse split. Nova traded on several exchanges and markets through the years, but ended up on the CNQ. In 2008, a private Ontario company acquired almost all the common shares for 50 cents per share, and intended to acquire the remaining shares. Unfortunately, because of the reverse splits, the remaining money would not be enough to buy a decent cup of coffee, but I suggest you contact the last known transfer agent, Equity Financial at equityfinancialtrust.com and let them know what you have.
Pacific Energy has no current value. The stock was cease-traded in 1996, and that order remains in effect.
Afton Food had a 1 for 10 reverse split in 1999. The Company later filed for bankruptcy and went into receivership. No current value.