RE:TFSA and Rights Offer
Long time lurker, first time poster...
I've been coming here to keep up with MWX and ETI and make up for the gap in information officially (not) coming from the respective companies, so it has been a breath of fresh air to see people talking and interested in what's going on with these two companies. It's a risky investment, but I believe in the technology and what it's trying to do. They are literally turning garbage into gold (and other things).
This whole rights offer has been new to me, and I've been having tons of questions about how to do and what to do. I eventually called Investor Relations at MWX last week and got extremely clear and competent information on the phone from them (I think I spoke to a fellow named Dean). I then called my broker (Scotia iTrade) to find out how to actually exercise the rights. The phone hold was very long, but when eventually I got through I again got very good, clear info.
I have MWX in a TFSA on iTrade. If you need to add money to your TFSA account in order to exercise your rights, that WILL count against your TFSA contribution limit. If you already have cash or other holdings in your existing TFSA and are able to use that cash or sell holdings without taking money out of the actual TFSA account, then you can use those funds to exercise your rights without it affecting your TFSA limits. With iTrade, you have to actually phone in to perform the actual rights transaction. It can not be done online.
I only received my rights this morning, and they show up just like another asset as MWX.RT. They show an expiry of March 8, and if they don't get exercised, they'll just disappear from your account after that date.