As i've already addressed on ceo.ca there seems to be a few
posters who wish the company to fail, or delist.
As if they delight in it.
With most all my posts on xmg's stockhouse bullboard
i try hard to post accurate information looking at both
sides and all angles - all the while focusing on the minerals.
Don't really know the whole story behind the scenes, but some
of the moves made appear to be in favor of orhers besides shareholders.
Yes... it does require shares and monies to keep a company moving forward.
What we shareholders don't know ? What mineral claims remain.
Love researching about minerals but when it comes to stock
reglatories - such is not my forte.
BUT - i did find this interesting in todays press. Only common stocks are delisting. Which could mean several things.
1- preferred or warrants stay with claims
2- go private with claims ( with only ) common shares ( attached ) no preferred or warrants
3- if private it would shake off the negative nellies and sharks wanting the claims
4- delisted but, based on internet intel - shares can be traded OTC
5- company could seek another exchange
6- claim deposits could be ( absorbed ) by other juniors with shareholders attached ?
Why Do Stocks Get Delisted?
Stocks are delisted either voluntarily by the company or at the insistence of the stock exchange.
A company may choose to delist if it is going private, restructuring, or planning to shift the listing to another jurisdiction. If the company is unable to meet the listing requirements an exchange is likely to begin delisting procedures, often giving the company a limited time to regain compliance
How do I sell a delisted stock in Canada ? You could contact your financial institution or brokerage to see if they have a method for you to dispose of delisted shares, or shares which are worthless or near worthless. They may purchase the investment from you for a nominal fee, which will provide you with a transaction receipt as proof of sale.Mar 15, 2022
How do I get my money from a delisted stock ? Although some brokerages restrict such OTC transactions, you generally can sell a delisted stock just as you would a stock that trades on an exchange. A delisted stock can continue to trade over the counter for years, even if the company files for bankruptcy. https://www.fool.com/investing/how-to-invest/stocks/delisted-stock/ Now.... this sort of info sheds a whole new light on the matter.
I never knew this kind of intel until 1/2 hour ago.
I have faith in the mineral claims.
Would like to know what remains.
I know Govt's and larger companies are seeking out critical minerals.
Which is why i'll hang onto my shares.
Hoping the company seeks another exchange listing.
Or... if private... another offers the company the right $$$$ amount
inwhich to reward shareholders.
i'll place a measure of faith in, company. Things might make a turn for the better.
Maybe there's still hope. Maybe something good will come of this.
Not investment advice. Simply sharing what i've come across this eve.
Please make your own decisions.