VINTAGE - BCRIC Share Certificates: LOT OF 13 Consecutive-attached 1979 shares M

Description

VINTAGE - BCRIC Share Certificates:
LOT of 13
Consecutive-attached 1979 shares.  Shares have been kept in an envelope for the past 43 years, hence the fold on the certificates as shown in the pictures, otherwise they are in mint condition, a collectable item.  Thanks for looking.
The
British ColumbiaResources Investment Corporation, or BCRIC
(pronounced"brick"), was a holding company formed under the BC government ofWilliam R. Bennett. The company took over ownership of various sawmills andmines that had been bought and bailed out by the government.
The most famous aspect of thecompany were the five free bearer shares, dated August 7, 1979, which weredistributed to all British Columbians, to promote investment in the province,and earn back a profit to the buyer. British Columbians and investors wereencouraged to buy more. The company expanded and bought numerous mining andlogging installations.
Because of significantinvestment in a North Sea oil play by a subsidiary, Westar Petroleum, and badtiming in a mining investment by another subsidiary, Westar Mining, the companyran into financial trouble. Investors saw their thousands of dollars dwindle topennies.
In 1995, the shares wereconsolidated at a ratio of 125 to1. At the time, five bearer shares were worth0.8% of a post-consolidation share. In June 1997, the consolidated shares weresubject to a compulsory buy-out at each ({{detail_product_description}}.56 per bearer share) as part ofa privatization transaction by the Jim Pattison Group. However, the buyout hada 10-year limit, which expired on June 30, 2007, and so outstanding sharecertificates no longer have any value.