Post by
christo on Jan 06, 2022 6:46pm
kootenay resources...non-qualified investment
Anyone else get a letter re:holding spinout Kootenay Resources in TFSA.?...as in one is not
allowed to hold in a TFSA..after 90 days my brokerage (TD) will buy the holding for one cent ...
so basically anyone with KTN in their TFSA got squat from the spinout...
Comment by
xenes25 on Jan 06, 2022 7:10pm
No letter in my tfsa, but I see on sedar a 300,000 financing has been announced.
Comment by
MRG_WPG on Jan 07, 2022 1:50pm
Did you already sell it for one cent ? If not don't do it until you get more information. I called TD today. I hold this in my RRSP account and there are options just like you have options in your TFSA likely.
Comment by
blackwolf25 on Jan 11, 2022 2:46pm
Spoke with RBC today regarding this matter. They cannot transfer the shares until they have a value attached. Also, until they are listed they are considered shares in a Private Company, as per said conversation. I have followed up with a call to the KTN office and am awaiting response.
Comment by
MRG_WPG on Jan 11, 2022 2:56pm
I spoke with Chris (I believe that is his name) this morning at KTN. He did not agree that anyone should ask you to gift your shares away. He will be sending me a document from SEDAR that says on page 14 that the fair market value for those shares is 4 cents. You may be able to provide that information to RBC or TD or whoever and they might be able to do somethibg for you.
Comment by
blackwolf25 on Jan 12, 2022 5:11pm
yes, with that info, there is a form FMV, to fill out that gets the ball rolling.