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Great Northern Iron Ore Properties
Ticker Symbol: GNI* CUSIP: 391064102 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/06/15
Company's Online Profile
BUSINESS: Great Northern Iron Ore Properties is a conventional nonvoting trust organized under the laws of the State of Michigan pursuant to a Trust Agreement dated December 7, 1906. The Trust owns interests in fee, both mineral and nonmineral lands, on the Mesabi Iron Range in northeastern Minnesota. The Trust's properties, which span two counties (St. Louis and Itasca) in northeastern Minnesota, extend from Hoyt Lakes on the east end of the Mesabi Iron Range to Grand Rapids on the west end of the Mesabi Iron Range. Many of these properties are leased to steel and mining companies that mine the mineral lands for taconite iron ore. The Trust has no subsidiaries. With the properties and offices all located in Minnesota, the Trust and matters affecting the Trust are under the jurisdiction of the Ramsey County District Court in Saint Paul, Minnesota. Great Northern Iron Ore Properties represents an important chapter in Minnesota history with a presence in St. Paul and on the Mesabi Iron Range that spans over a century, and key ties to James J. Hill - railroad pioneer and founder of the Great Northern Railway Company.
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Notes: The terms of the Great Northern Iron Ore Properties Trust Agreement, created December 7, 1906, state that the Trust shall continue for twenty years after the death of the last survivor of eighteen persons named in the Trust Agreement. The last survivor of these eighteen persons died on April 6, 1995. Accordingly, the Trust terminated April 6, 2015. Upon the termination date of the Trust on April 6, 2015, the certificates of beneficial interest (shares) in the Trust ceased to trade on the New York Stock Exchange. Upon Trust termination and after the wind-down process is completed, the Trust is obligated to distribute ratably to these certificate holders the net monies remaining in the hands of the Trustees (after paying and providing for all expenses and obligations incurred through the Trust’s termination and wind-down process), plus the balance in the Principal Charges account (this account is explained in the Trust’s Annual Report sent to all certificate holders every year)
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Micro Cap Stock -
Market Value $ 34.9 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Address and Phone Numbers |
| Address: W-1290 First National Bank Building, 332 Minnesota Street, Saint Paul, MN 55101 |
| Main Phone Number |
651-224-2385 |
| Fax Number |
651-224-2387 |
| Investor Contact
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651-224-2385
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| CEO - Joseph S. Micallef |
CFO - Thomas A. Janochoski |
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