Canadian Stocks/Re: Stocks
We bought 1500 shares of Overton Energy& Resources Inc. in 1983,we would like to know if they are worth any money or they are not good,also i have 500 shares onGolden Caribou Exploration Inc.Can you please let me if they still good .Thank you Giulio
Giullo, from the information I have available:
Overton was acquired by Newfoundland Exploration on the basis of 1 Newfoundland share for every 2 Overton shares. Newfoundland later changed its name to Drug Royalty after a 1 for 10 reverse split. Drug Royalty was acquired in 2002 for $3.05 per share cash.
Golden Caribou did a 1 for 3 reverse split, then another 1 for 3 reverse split and changed its name at least twice. It is currently Tenth Power Tech, which trades for about 2 cents per share on the TSX Venture. You will need to contact the current agent, Equity Transfer (www.equityfinancialtrust.com/) about getting the old shares reorganized.
For the Overton, the registered holder(s) should have received a check at the time of the takeover in 2002. If the acquiring company was unable to contact the registered holder, the money would have been turned over to the Government for safekeeping. It would have been sent to the State or Province of the last known address of the holder. You can search many of the missing property registries online for free at www.missingmoney.com and www.naupa.org.