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Solstice Gold Corp V.SGC.W


Primary Symbol: V.SGC Alternate Symbol(s):  SGCPF

Solstice Gold Corp. is a Canada-based gold exploration company with gold and lithium projects in mining regions of Canada. The Company’s 268 square kilometers (km2) Stewart Lake Project (SLP) is a lithium property located in the English River Subprovince in an area. The Company’s 194 km2 Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake Camp in Ontario and approximately 45 km from the Red Lake Mine Complex. The Red Lake Extension Project consisting of approximately 10 claims (164 units, 3300 hectares (ha)) located in the northern part of the Red Lake Gold District. Its 322 km2 Atikokan Gold Project is approximately 23 km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited. The Company’s Qaiqtuq Gold Project, which covers approximately 886 km2 with certain other rights covering an adjacent 683 km2, hosts a 10 km2 high grade gold boulder field.


TSXV:SGC - Post by User

Bullboard Posts
Comment by nobucks2on May 28, 2016 12:38pm
136 Views
Post# 24912971

RE:Merrill here...75% deducted in transaction fee

RE:Merrill here...75% deducted in transaction fee
Vikky, I'm not sure if this will help but I have been playing with the numbers you gave.  I have had to make a few assumptions, the first being we are talking US dollars.
With 50,000 shares I believe you should have received $12,000 USD as a return of capital.  The fact that you received much more seems to indicate you are including the funds you received when you sold your shares for what I estimate to be $11,518 plus or minus depneding on the brokerage fee.  That would be 23 cents a share.  Now according to Sunridge the shares were delisted on the 13 of May so they should not have been trading.   "Sunridge Gold Corp. (the "Company" or "Sunridge") shares and warrants were de-listed from trading on the TSX Venture Exchange and the OTCQX on Friday, May 13, 2016."
     However, according to the company's latest press release "Sunridge shares will continue to trade on the OTCQB until the Company is liquidated in November 2016."  (see company website: https://www.sunridgegold.com/s/Home.asp)
In essence the shares were worth about 5 cents  to the registered owner after the initial distribution  was paid.  Also, since the share registry was supposed to close on May 18   (Sunridge Gold Corp. (the "Company" or "Sunridge") advises that Computershare, the Company's transfer agent, will close the Company's shareholder register at the close of business May 18, 2016 and requests to transfer shares after this date will be rejected)  there would be no way to transfer the shares so the November payment would also go to the owner of record on May 18.  That would be you, so you would get the money you got for selling your shares after the record date and the buyer would get worthless shares. 
However, it may be that the shares are now being transferred and the person who paid for your shares will get about 5 cents Canadian in November (and loose money in the process) and you will not get the November distribution.  You will end up with about .1176 cents per share because of the rather exorbitant transfer fee, which is much less than if you had not sold your shares for what seemed to be a "too good to be true" price.  . 
Rather than contacting Sunridge I would get my broker to do something for his money and talk to the people in his back room and find out what is going on.  If he/she can elnighten us, please post. Good Luck. 
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