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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Megastar Development Corp | TSXV:MDV | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.11 | 0.105 | 0.115 | 0 | 01:00:00 |
A Shareholder will only recognize a capital gain on the Share Exchange to the extent that the fair market value of the Eloro Shares ($0.087) and the adjusted cost base of the Megastar New Common Shares received on the Share Exchange, less the amount of any dividend deemed received ($nil) exceeds the adjusted cost base of the Shareholder's Class A Common Shares determined immediately before the Share Exchange.
The adjusted cost base to a Shareholder of the Eloro Shares received on the Share Exchange will be equal to their fair market value ($0.087). The adjusted cost base to a Shareholder of the Megastar New Common Shares received on the Share Exchange will be equal to the excess, if any, of such Shareholder's adjusted cost base of the Class A Common Shares less the fair market value of the Eloro Shares received by such Shareholder.
You may find this information useful for tax purposes. This summary is not intended to be, nor should it be construed to be, legal or tax advice to any particular Shareholder. Shareholders should consult their own tax advisors for advice with respect to their particular circumstances including, where relevant, the application and effect of the income and other taxes of any country, province, territory, state or local tax authority.
These tax consequences are explained in greater detail in the Management Information Circular of Megastar dated November 25, 2010. All capitalized terms used herein have the meanings given to them in the Management Information Circular.
ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp. is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada. Megastar owns gold and base metal properties in Quebec and British Columbia. For further information, investors and shareholders are invited to visit the Company's website at www.megastardevelopment.com or call the office at 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
Dusan Berka, P. Eng., President & CEO
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts: Megastar Development Corp. Dusan Berka, P. Eng. President & CEO (604) 683-6648 (604) 683-1350 (FAX) www.megastardevelopment.com
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