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Bellatrix Exploration (BXE) - Bought out? What can I do?

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  • Mar 7th, 2021 6:11 pm
[OP]
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Aug 22, 2008
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Bellatrix Exploration (BXE) - Bought out? What can I do?

Just wanted to know if anyone can tell me what happens with a delisted stock (BXE) that recently got bought out (by Spartan Delta Corp)?

https://www.globenewswire.com/news-rele ... artan.html

I had some total loss shares before from BXE, wanted to know if I should just call Questrade and remove it from my account, or will there be a chance that I'll get something out of it in the future?

I have in my TFSA, so no capital loss...

Please advise!

Thanks
9 replies
Deal Expert
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Apr 21, 2004
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What do you get out of removing it? Maybe having it there showing as -99% loss will make you a more cautious trader / investor down the road?

I have KGIC (total wipe out) in my account lol.
[OP]
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Aug 22, 2008
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You are correct! Initially I had it for that purpose. Consistent reminder of my mistake in the past. But it's been a while and I think it's time to move on lol.

However, seeing that a new company had bought them out, I thought holding those useless shares will give me shares of the new company or something. Was hoping someone on RFD with knowledge about this can chime in.

Sorry to hear about your KGIC lol. We all learn from our mistakes!
Jr. Member
Aug 15, 2016
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I am pretty sure that Spartan Delta bought the assets out of receivership and that only Bellatrix's creditors received proceeds. That would mean the shares are worth $0, but you should look into it yourself to confirm.
[OP]
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Brewmaster7 wrote: I am pretty sure that Spartan Delta bought the assets out of receivership and that only Bellatrix's creditors received proceeds. That would mean the shares are worth $0, but you should look into it yourself to confirm.
Thank you for the suggestion. I was trying to look for the info. But not exactly sure where I can find this info.

I'd assume QT can help me with that?
[OP]
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Aug 22, 2008
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I will contact both BXE and Spartan's customer relation and see if I can get an answer.

Was hoping someone can share their expertise here... Or had similar situations.
[OP]
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Aug 22, 2008
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Got a reply from Spartan:

"Hello and thank you for your email,

BXE shares remain associated with Bellatrix’s corporation. Spartan Delta Corp. (through Winslow Resources Inc.) acquired the assets of Bellatrix for cash consideration and so BXE shares will not be consolidated into Spartan shares.

Kind regards,

Spartan Delta Corp."


So I guess that means my BXE shares are useless?
Sr. Member
Jun 2, 2017
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I'm thinking it will be useless and a capital loss for tax purposes. It still showing in my account but cannot do anything/not tradeable.
[OP]
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Aug 22, 2008
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CEOofPopeyes wrote: I'm thinking it will be useless and a capital loss for tax purposes. It still showing in my account but cannot do anything/not tradeable.
Yup. I took it off my account by asking QT to manually do it. Too bad I had it in my TFSA. One of my early investment mistakes. Learned from it, and moved on! :)
Sr. Member
Jun 2, 2017
724 posts
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sheepe wrote: Yup. I took it off my account by asking QT to manually do it. Too bad I had it in my TFSA. One of my early investment mistakes. Learned from it, and moved on! :)
Bellatrix was a good lesson learned for me too an I'm sure others hah. Happened to be in QT as well lol for these good ol risky bets.

Funny as other energy plays < $5 are now recovering and moving back upwards :)

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