GREY:CTABF - Post by User
Comment by
Tonydeon Feb 10, 2019 10:58pm
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Post# 29345085
RE:Re TFSA SPIN OFFS
RE:Re TFSA SPIN OFFS
SD68, be aware of any brokerage or a financial institution that threaten you with any of your securities. That's called stealing. I'm pretty sure that there must be some kind of misunderstanding. A letter / notification was sent to shareholders stating that these 7 SpinCos (securities) are Not eligible for tax sheltered accounts (ie. TFSA, RRSP etc.). Shareholders should choose 1 (one) of 3 (three) options. Move these securities to a cash account. Sell them for market value (no value as of yet). Give them up. You must give your broker a written instructions if you intend to give away your securities. If a shareholder leaves them in a registered account, once these SpinCos starts to trade at a value they will be taxed. Keep in mind that these SpinCos are Non Qualified Securities (NQS) as of yet, because they are considered as Private corporations. Hoping once they are listed they will be eligible again for all registered accounts!! If you're following these SpinCos, 5 (five) out of the 7 (seven) changed from a numbered corporations to a named corporations. CB2 INSIGHTS INC. GREAT OAK ENTERPRISES LTD. ROSSITER MINING CORP. RADBOURNE DEVELOPMENTS INC. TORO DORADO MINERALS INC. (January 29, 2019). You might be aware that the first one that might be listed in the next couple of months is CB2 Insights Inc. A Definitive Agreement with MVC Technologies was signed in December 2018. More Information can be found on the Sedar website. Just a reminder of the 7 (seven) SpinCos. SpinCos #1 and #5 were worth 1 (one) cent per share. SpinCos #2, #3, #4 and #6 were 5 (five) cents per share. SpinCo #7 at 0.005 (half a cent) per share. In my opinion if your broker offer to give you 1 (one) cent for SpinCo #7, (RADBOURNE DEVELOPMENTS INC.) take that offer and run. I might be WRONG!! In regards to the other 6 (six) SpinCos, I will hold on to them. It might take some time however I believe that some of them will pay out and ease some of the losses that some of us incurred last year!! Please keep in mind that the above statement is purely My Honest Opinion. Everyone should / must do their homework (searches and DD) and act appropriately. GLTA.