Canadian Stocks/Old Stocks
Hello Mr. Taylor,
I am asking this question on behalf of my very sweet neighbour. She is 87 years old and asked me to look into these stocks that her deceased friend left her as she was in charge of her estate after the passing.
Conigo Mines Limited = 500 common shares from Oct. 1969
Quadrate Explorations Limited = 500 shares from Sept. 1967
Bahamas-Caribbean Development Corporation Limited = 1200 shares from Oct. 1969
All these were bough in Toronto, Ontario, Canada
I looked them up but I didn't get far. Please advise if it is worth it looking into to see if they have any value?
Much Obliged sir. I really hope you help me here so I don't go back to her with no information...
Rafi, from the information I have available:
Conigo went through several name changes and reverse splits (1 for 7.5, and 1 for 4) and became Eastern Platinum, which in 2014 wiped out all the small shareholders with a 1 for 1000 reverse split. Shareholders with less than 1000 shares received 11 cents cash per share, but based on the prior reverse splits, your neighbor likely would have received very little cash - probably not enough for a postage stamp, unfortunately.
Quadrate has no value. The Company had its charter cancelled and was dissolved in the mid-1970's.
Bahamas-Caribbean had a 1 for 20 reverse split and became Oceanus Industries, which was taken private in 1983. Shareholders received a check for $5.15 cash per share at that time. She should have received a check for her 60 remaining shares at that time.