Hi Analyst8,

In addition to the 4N threshold, the balance of the funding mentioned in the press release was always subject to the negotiation of a formal agreement between the parties.

On February 29 2016, we did come to an agreement to convert the escrow cash in shares via a PP.  But as the project evolved since the signature of the letter of intent, it became clear that concluding a final agreement between the parties along the original terms of the letter of intent was not feasible.

For HPQ this was a very positive outcome, and this is why, even after we issued a press release confirming the production of 4N Si on November 29, 2016, no additional funding emanated from these investors.

They are still shareholders of HPQ, and we do have discussions with them from time to time, but at this time I have nothing more to add.

Regards,

Bernard Tourillon
President and CEO