Does anyone know if our shares are gonna be cancelled out from this upcoming "de-listing" from the TSX by RBEIF? My shares trade on the American OTCBB exchange and I've written the company asking for clarification and not a peep in return.
I assume this CCCA action to be similar to the American Bankruptcy process where a judge will be assigned and they have to go through bankruptcy procedures that are fairly transparent in process and form.
I have a bad feeling that some other larger mining company will come in and scoop this up for pennies on the dollar, cancel the equity holders stake (shares), and pay off the outstanding debtors to gain ownership of the company. Unfortunately I've been through this procedure with several companies and the underlying, constant theme has been common shareholders are the last in line for consideration and in all cases but one our shares were cancelled and we received NOTHING.
It's part of the risk and gamble of dealing with smaller, start-ups though so not a huge surprise BUT a big disappointment.
DD22
Stock Trading...ha ha...Child's Play.
