So this came to me in a dream and definitely NOT from Lee so take it for what its worth.
As you may be aware, Copper King Mining Company has confirmed its Joint Plan of Reorganization (the "Plan") by order of the Bankruptcy Court.
The Plan and the Confirmation Order provided that the "old" pre-confirmation securities of Copper King were canceled. Accordingly, the old Copper King shares have value only as a place holder.
New share certificates for the common stock of reorganized Copper King are being issued Pursuant to the Plan, Copper King shareholders are to receive their pro rata share of 3,180,000 shares of reorganized Copper King common stock, which is estimated to be approximately 31.8% of the outstanding shares of reorganized Copper King's common stock. Each shareholder will receive approximately one (1) share of reorganized Copper King stock for every 1856 shares of old pre-confirmation stock held of record. Note that your new share certificate will have a different CUSIP number than your old shares and the new stock will be identified by this CUSIP number.
Old CUSIP number 21750M 109 (Certificates bearing this number are canceled)
New CUSIP number 21750M 208 (New Certificates issued on a pro rata basis will have this number)
Some Shareholders have recently noticed that their old shares are no longer shown in their brokerage account. That is a step taken by the brokers in response to the Depository Trust Corporation’s cancellation of the old shares.
Please note: We have found that when you call you brokerage and talk to a broker, in most cases, they do not know that new shares are being issued.
New share certificates are being issued to your broker and should be placed in your account. You should not need to take any action to make this happen.
