"I also thought that if we get Teck shares in exchange for CUU shares we'll be fine because they are dividend paying and not as speculative like penny stocks."

Interesting point. I didn't invest in Copper Fox because it was "speculative"; it's not a bank, agreed, but I still think there was, and still is, enough hard information there to base a decision to invest on the expectation that a gain will be made at not too great a risk - later if not sooner. Nobody invests to lose money, after all, and there's some degree of risk inherent in any investment. TFSAs permit shares to be held within them. If the investor is not a frequent trader I don't see what all the fuss is about.