Questions & Answers
Here are a few questions that are asked often.
QUESTION 1. What is the difference between having shares registered in Certificate, Book Entry, or DRS form?
Certificates are printed on special paper with security features. All certificates must be delivered by courier with tracking. Courier’s could be expensive. If a certificate is lost, an Insurance Bond is required to have the certificate replaced. The Insurance Bond is usually a percentage of the value of the shares represented in the certificate.
DRS (Direct Registration System) contains the same information that is on a certificate but is printed on regular paper and can be sent via mail or email.
Book Entry is simply an entry in our Shareholder Register. This is often done when a transfer is planned or when shareholders want to wait until the restrictive legend expires to have them issued in Certificate or DRS form to save money.
QUESTION 2. How do I deposit my shares into my brokerage account so I can sell them?
ANSWER 2. Simply deliver your Certificate or DRS statement to your broker who will arrange the deposit to your Cash, RRSP, TFSA, or other account.
QUESTION 3. I am a U.S. Resident and my shares have Restrictive Legend. How do I have the legend removed?
ANSWER 3. In order to have legend removed from shares owned by a U.S. Resident, you must engage an attorney to prepare a Legal Opinion and provide the opinion to the Transfer Agent.