Canadian Stocks/mining in canada
T J Sawyer wrote at 2016-05-08 01:47:06
On March 27, 1997, “Gail Sharp”, Corporate Secretary of NORCAL RESOURCES LTD., Formerly Silver Ridge Mining Company Limited (N.P.L.) … (collectively the “Predecessor Companies”) wrote
TO THE SHAREHOLDERS OF THE PREDECESSOR COMPANIES
Many of the shareholders of the Predecessor Companies did not exchange their share certificate each time a consolidation and name change occurred. This has resulted in the Company having to maintain subsidiary Registers of Members at considerable additional cost.
… each shareholder of Silver Ridge Mining Company is entitled to receive one share of the Company for every forty-five (45) shares;
… Fractional interests will be dropped and because of the high administration cost relative to the value of fractional interest, shareholders will not be compensated for the loss and forfeiture of their fractional interests.
That results in 2500 shares of Silver Ridge yielding 55 shares of NORCAL.
Additional blow by blow details can be found at:http://docplayer.net/15479789-Grenville-strategic-royalty-corp-annual-informatio
On the brighter side, old stock certificates can sometimes bring several dollars on eBay.