QUESTION: My father has been going through papers that were found in a box that was buried away in the back of a closet. My mother who has passed away had purchased the following and my father who is 91 can't remember much about the purchases.
Estate oF Mother
200 shares of New Ainsworth Base Metals Ltd purchased on July 14, 1961
400 shares of LOBO GOLD & RESIiNC purchased Sept 22, 1992
50 shares of Consolidated Homestead Oils Ltd purchased on March 9, 1976
80 shares of Mark Lake Mining Corporation Ltd purchased on June 13, 1962
10,000 units of Trimark Select canada Fund on May 25, 1992
If you could help us or direct us to the correct place it would be very much appreciated.
ANSWER: Robin, from the information I have available:
New Ainsworth went through 8 name changes and numerous reverse splits before being dissolved in 1993. No value.
Lobo also had numerous reverse splits and name changes. It was eventually taken private for a small payment per share, but your Mother's 400 shares would have been wiped out before that. She may have received a very small payment for her remaining shares, but it would have been less than a dollar. No current value.
For Consolidated Homestead, the only company by that name I can find in Canada had a name change decades before the date you provided. Can you check again and let me know the date on the certificate and the Province of Incorporation? That may help me track it down.
I have no information on Mark Lake Mining.
Trimark Select was a mutual fund. Trimark is now part of Invesco Canada. I suggest you contact them directly regarding the possible value of those shares, as they may have significant value.
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QUESTION: My mother had 50 shares with CDN HOMESTEAD OILS LTD purchased march 3, 1976.
Robin, the history of Canadian Homestead is a little complicated. They became Inter-City Gas on the basis of 1.4 Inter-City for every 1 Canadian Homestead shares. Inter-City later reorganized, and I believe all holders with less than 100 shares, which would include your mother, were taken out and paid off in 1990. Even if they were not redeemed in 1990, they would have been in 1999 when the Company, now International Comfort Products, was acquired by United Technologies for US$11.75 cash per share. Your mother should have received a check for her remaining shares sometime during that period.