RE:Does Anyone Know What Happened To These Shares?Never mind my last reply as I decided to use the email posted earlier in the thread and John to my surprise replied to my query. It seems that Premium is not officially dead and there are steps being taken to reactivate the company.. I am posting the email as I'm sure it will be ok as anyone else that would have took the time to email would likely have recieved the same reply so not personal or confidential in anyway....
Thank you for the email.
Premium is not dead. It was delisted and its subsidiary Premium USA was forced to file bankruptcy in the USA in 2016. The parent did not file although it had several millions of mostly vendor debt but there were not aggressive Canadian creditors as there were in the USA.
The subsidiary was able to exit US bankruptcy in about 18 months by leasing the main property (Friday) to a company called Endomines who have developed the Friday deposit as a small underground mine.
I have still been working through various debt settlements with creditors the last few years - in fact just concluded a settlement with a creditor last week and hope to have another settlement done in a few months.
There have been no common shares issued since the company was delisted so your share position is unchanged.
If I can put together sufficient funds I will update the financials, get them audited and relist on CSE. Long process but because time has gone by some of the creditors will be time barred. On the other hand, there are also some creditor judgements that will have to be worked out when we relist.
With respect to the CSE: BBR shares - the shares are owned by Premium. There was a 10/1 reverse split of BBR and they recently approved a 3 for 1 forward split.
so the net effect is that there will be 900,000 shares after the forward split. I hope these shares attain a value sufficient to pay off rest of creditors and provide the funds for audit/relisting.
BBR management is saying the assays from the recent drilling should be out in a few weeks. BBR could have a major porphyry discovery which is what I am hoping.