VIRGINIA HILLS OIL CORP VFGGF

Need advice with this

[woodsnew1]

What are you guys doing? How would I not lose my entire capital invested with this? Either stay with VHO or completely get my capital back +/- $500?

[louel]

Look in your broker acct.  You receive 8 rights for each VHO share held.  My rights are already in my acct.  You have 4 avenues to choose from concerning the rights.  Before May 15th 2015  1) Have your broker Exercise them. That costs 25 cents each,  It turns them into additional common shares worth what ever the share price is.

[Shlinker_]

You are dead on louel. Cheers. Good luck to everyone (retails). id love this to trade upto 1.00 (after buying my arrangement right shares), but my borker says beware. i somewhat believe him... but question...does the money for the arrangement rights go to the company? Id tend to think it would.

[Shlinker_]

Also had a chat with VHO CFO today - She sounds lovely. ;-)

[renoldman]

Not sure the rights are going to trade on their own. The NRs never mentioned that they would be. The fact that they aren't already as far as I know, pretty much confirms this. Have you ever had rights trade where they didn't mention it beforehand?

[Shlinker_]

As soon as you buy the Arrangement Rights, they convert to shares (a few buisness days) you can trade them right away. No timing restriction.

[louel]

The rights are your property until they expire.   I've never seen where they were not saleable.    The company gets the 25 cents for each share so they want them to be exercised.      Rights that are not exercised by due date,  revert to the company,  and are distributed to share holders who want

[bargnhillbilly]

I just got off the phone with Scottrade. I told him to go ahead exercise the right to buy additional shares BUT when he did, additional information from Canada popped up. There are hidden fees attached and Canada does not know how much they are at this time. So Scottrade will call me when they know more. There is also a hold on these additional shares and may not be able to sell for up to 2 years.

[cctr]

I also just got off the phone with Scotia I-Trade to see if I could sell my rights as someone mentioned on here that you may be able to. Scotia I-trade told me that I cannot sell my rights ....I have also left a message with Tracie Noble at VHO to confirm this. Basically it seems you either take a huge loss or stick with this for the long haul....

[Shlinker_]

Tracie seemed to think the rights could be sold right away. No hold period....wow. What a joke that is if true.

[Shlinker_]

My borker says seeing that they exist in my account already - they can not have restrictions on them. Can only have restrictions if they are share certificates. Are you Americans? there are restrictions on American accounts.

[bargnhillbilly]

Yes, I'm American Shlinker. I replied as soon as I got off the phone. So I could tell the account as accurate as I could. I'm just going to write this one off. No way in h... will I contribute another nickel to this stock. If they thought anything of us shareholders. The stock deal would not have been done at .006!

[pp19888]

You first need to exercise those rights at 0.25 and then you can sell those shares in open market.

[rana344]

Thank you. How many shares do we get by exercising each right? And please check if my following math is correct, this is the first time I'm going through something like this, so anyadvice is appreciated: PTY bought                  100,000 shares @ $0.015  = $1,500 VHO after toll-back     1000 shares       @$1.50

[Shlinker_]

Rana, you're math is correct. You did good, provided the SP stays here.