You seem confused.You would still hold your shares in the...

You seem confused.

You would still hold your shares in the company, and expect to receive a CHESS to Issuer Sponsored conversion confirmation.

However you cannot easily trade the shares, that's the only difference.
You would need to arrange an off market transaction.

If you incur a capital loss upon sale of those shares, then you can carry that loss forward or use it to offset any capital gains you may have incurred.

Simple?