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Canadian Stocks/Jascan Resources Inc.

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Question
My father has passed away and would like to transfer stock to my mother's trust. I am the trustee. Can you be of assistance.

Thank you!

Answer
Jeff, the Jascan shares cannot be transferred because the Company is defunct. It was acquired in 2000 by Breakwater. Under the takeover offer, Jascan shareholders could choose to receive 0.55 of a Breakwater share for every Jascan share, or $1.15 per share cash, or 60/40 equity and cash. If your father received Breakwater shares, the Company later had a 1 for 10 reverse split before being acquired in 2011 for $7 per share cash. He should have received a check for any remaining shares at that time.

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