Chinook Energy Inc. Common CNKEF

RE:RE:RE:RE:Craft Oil question

[divot111]

What? Yes you can transfer them. You can also leave them in a registered account and lose 50% of any gains as opposed to paying capital gains in a cash account. Craft showed up as an OTC/pinksheet in many accounts and those are not deemed qualified investments according to CRA. They take 50% of gains so you don't turn 50000 dollars into a million in a couple days and walk away with it tax free. Anyone who plays pinksheets knows how volatile they can be. I had one just increase from .0001 to .0036 in about three days. Although that's not what I cashed out at.

All that being said the above is what my broker told me today. He also told me that they have done a correction and craft shares will soon be deemed a qualified investment so no need to transfer or sell them if you could. They said I will be receiving another letter shortly that outlines the change and it will reflect in how the shares are shown in my account. No action required. Hope that clears things up for anyone who received the same type of letter.