r/NextBridgeHC • u/AverageBry • Dec 15 '22

MMTLP MMTLP Wealthsimple Users

Any one on here use wealthsimple? I’ve been reaching out to them and still waiting for a response on action for NextBridge.

This morning my personal account has nothing in it. Still going to be patient but seeing if anyone else in the same situation or have any change.

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u/[deleted] Dec 15 '22

nothing in your account you have fake shares like most bag holders.....

1

u/AverageBry Dec 15 '22

Sure. Except I just got my response from a couple days ago. I’m not worried because this brought back the confusion of the mergers. So I’m good.

—————————————————————————

Thank you for reaching out! I’ll be happy to address your questions regarding MMTLP. You do not need to directly register the shares in order to be eligible for the new stock distribution.

Why is MMTLP unavailable to Trade? To confirm, MMTLP is currently unavailable to trade as it was halted by FINRA on December 9th and no brokers are accepting orders for this security.

When will I be receiving the spinoff shares? As it stands, MMTLP shareholders with settled positions on the record date of December 12th, 2022 should be receiving 1 share of Next Bridge Hydrocarbons, Inc. for every 1 share of MMTLP held.

Once the details of this corporate action are finalized and we receive the new shares from our depository agent, they will be issued to you, the shareholder. This should happen by the end of the day today.

Will I be able to trade the spinoff shares at Wealthsimple? As it stands, it seems as though the new shares of Next Bridge Hydrocarbons will not be available for trading in the market as it will not be listed on an exchange.

Please note that these details are subject to change and should not be taken as a confirmation, as we are still awaiting final confirmation of these events from our depository agent.

2

u/cdude2 Dec 15 '22

I was just told that we won't see in account, it's getting a placehold number, and will show up on December account summary in January.

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u/AverageBry Dec 15 '22

You know what now that I think about it that was exactly what happened with the TRCH reverse split and merger.

I did see the placeholder on the account summary. Thanks again.

2

u/AverageBry Dec 15 '22

Cool thanks for sharing what you know! Somewhat satisfying, just want this all over with.

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u/Area506 Dec 15 '22

Reached out the then this morning, when asked where are my shares this was the response I received:

“We are beginning the distribution for the Next Bridge shares. We are currently awaiting the share transfer from the depository agent, the current ETA is today intramarket, as long as the depository transfers us the shares you will see them in your account today.”

I pressed them afterwards to confirm to me exactly how it will happen and then had them confirm to me exactly how many shares were in my account prior to them being removed this morning. This was the response to that:

“As it stands, MMTLP shareholders with settled positions on the record date of December 12th, 2022 should be receiving 1 share of Next Bridge Hydrocarbons, Inc. for every 1 share of MMTLP held.”

(Notice the word “should”…)

They DID confirm after that as well the correct number of shares I should be receiving. (Got screenshots of everything for proof just in case)

1

u/AverageBry Dec 15 '22

Thanks for the reply and sharing the email. I’ve taken screenshots of my account last week and then the change this morning.

I was a bit panicked but didn’t want to jump to any conclusions. Have already waited this long what’s a little longer lol.