Northsun0,
You are entirely right.
From my experience in UK, even if you can hold your unlisted shares after a company going private (which by the way,it is really difficult to sell the shares), the majority shareholders could still try to dilute the minority shareholders in some way. For example, they could move a resolution to suspend pre-emption rights. That would allow the company to issue new shares without first offering them to all existing shareholders. They would need 75% of shareholders to approve. But 75% is measured in terms of the number voting not the total number of shares outstanding. So it's not impossible.
Not sure if this applies to Canada or USA.
Owning a tiny share of a small company is an hazardous job, that's why I never allow myself to allocate more than 3% of the portfolio to HRP
