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Bennett]]. The company took over ownership of various sawmills and mines that had been bought and bailed out by the government. The name was eventually changed to Westar Group Ltd. [[File:British Columbia Resources Investment Corporation Share certificate both sides.jpg|thumbnail|left|British Columbia Resources Investment Corporation Share certificate both sides]] The most famous aspect of the company were the five free [[bearer share]]s, dated August 7, 1979, which were distributed to all [[British Columbia]]ns, to promote investment in the province, and earn back a profit to the buyer. British Columbians and investors were encouraged to buy more. The company expanded and bought numerous mining and logging installations. Because of significant investment in a [[North Sea oil]] play by a subsidiary, Westar Petroleum, and bad timing in a mining investment by another subsidiary, [[Westar Resources|Westar Mining]], the company ran into financial trouble. Investors saw their thousands of dollars dwindle to pennies. In 1995, the shares were consolidated at a ratio of 125 to 1. At the time, five bearer shares were worth 0.8% of a post-consolidation share. In June 1997, the consolidated shares were subject to a compulsory buy-out at $70 each ($0.56 per bearer share) as part of a [[privatization]] transaction by the [[Jim Pattison Group]]. However, the buyout had a 10-year limit, which expired on June 30, 2007, and so outstanding share certificates no longer have any value. ==References== {{reflist}} {{Authority control}} [[Category:Companies based in British Columbia]] [[Category:Defunct companies of British Columbia]] [[Category:History of British Columbia]] [[Category:British Columbia government departments and agencies]] [[Category:British Columbia political scandals]] [[Category:Bill Bennett]] {{BritishColumbia-stub}} {{Canada-company-stub}} </textarea><div class="templatesUsed"><div class="mw-templatesUsedExplanation"><p><span id="templatesused">Pages transcluded onto the current version of this page<span class="posteditwindowhelplinks"> (<a href="/wiki/Help:Transclusion" title="Help:Transclusion">help</a>)</span>:</span> </p></div><ul> <li><a href="/wiki/Template:Ambox" title="Template:Ambox">Template:Ambox</a> (<a href="/w/index.php?title=Template:Ambox&action=edit" title="Template:Ambox">view source</a>) 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