Creso Exploration Inc CRXEF

Question from a n00b when it comes to acquisitioned stocks

[Jonogubba]

I've bought a ton of this stock through RBC. When the deal goes down April 1st will it simply list as a different name with half as many stock in my portfolio? Or is there something extra I have to do? I'd hate if something screwy happened like a default sell or something. I've had Osisko stock before and pondered the same question.
Thanks in advance a good luck!

[walterroge]

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[Jonogubba]

Answer: One company purchasing another is called an acquisition. When a company you own is purchased, the shares you own go away, and you get paid by the purchasing company in one of the following ways: Cash Acquisition – Just like when you sell stock, the purchasing company pays you a set dollar amount for each share you own Stock Acquisition – The purchasing company gives you shares of its

[NaturalCurrency]

You should get half the share of NewCo unles you are a US investor. In that case your stocks will be put in an escrow, sold off and you will get cash proceeeds. Of course, I am not a qualified financial consultant, this is my understanding from reading all the press releases / amalgamation docs. You should do the same.   

[Jonogubba]

Thanks Natural, I am indeed Cdn. I picked up the stock thru RBC, I'm sure everything will simply re-adjust to the new name with half as many stocks. From what I've read, it seems it's exactly the US  investors dumping stock that is keeping it low as you have eluded to....but again, I am a n00b. I think it has something to do with taxes and Cdn foreign ownership rules. I

[Rhumplestilskin]

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[Jonogubba]

I called in to RBC Direct Investing to talk to a rep just to make certain. The switch-over is to take place on March 31st, each CXT being worth 0.5 the new stock and to not expect the new stock to show up on the online portfolio until a week after or so.