Ventura Cannabis and Wellness Corp CVHIF

RE:RE:Buyers of CVHIF shares

[lscfa]

You can gift your junk CVHIF shares to your broker and they will remove them from the account letting you crystalize a capital loss but don't be too hasty. There is possibly a 3rd distribution to be paid out as co. winds down, assuming bozo VCAN mgmt is prudent.   

davgro wrote:

Hiimehab wrote:
Who is buying these CVHIF shares and is it one or many buyers? Will these buyers ante up to 10 cents anytime soon...

I doubt you will see over USD $ 0.04 for CVHIF shares moving forward.

Food for thought if you were holding VCAN in an unregistered account:

• there will be a tax liability owing on the value of all the VIBE shares you receive as part of the transaction as they are considered a stock dividend and taxed accordingly.

• unless you sell your CVHIF shares you will not get the capital loss that you can use to offset capital gains for the tax year.  If the shares become delisted on the OTC pinks and you have not sold them you may still be able to claim a capital loss under subsection 50(1) of the income tax act but there are strict conditions.

• see:  https://www.taxtips.ca/stocksandbonds/worthless-shares-or-debt.htm

I was more than happy to sell all my CVHIF shares on the OTC at an average price of about USD $ 0.05 and also record a significant capital loss that I can use against capital gains in 2021.  I see this as a win-win versus holding false hope that CVHIF will ever rise again being that it is an empty shell company with no assets.