Dear Deslug1, 

You do realize that Peter and PYR are not responsible for HPQ public disclosure, that is my responsibility.

Asking Peter, on both the PYR and HPQ Agoracom board, a question regarding HPQ public disclosure is odd.

Until the last week of November, we (HPQ) still believed that even if Pyro had opted to divert assets to non-paying projects, that the pilot plant timing could be saved, so the information relayed to investors reflected management assumptions until then. 

During the first week of December, we realized that this was no longer feasible, and we issued, on December 9 2019, a press release, that a) informed investors of the delay; b) gave context to the situation and, c) presented many of the exciting projects we are working on that are not dependant on the start of the Gen3 pilot plant to give value to HPQ.

Your choice of highlighting only the part of Peter quote related to the delay seems to be missing the bigger picture found in the rest of Peter quote; “This enabled PyroGenesis to secure the large breakout contract it recently announced as well as the upcoming Navy project, which was also recently announced. As a result, our signed backlog increased from $6MM in Q2 2019 to almost $30MM at the end of Q3 2019. The successful closing of the Navy project will further increase this backlog by an additional $13MM. This increase in backlog de-risks the company significantly, all to the benefit of our clients, like HPQ, and their shareholders” and “We are now in a position to re-focus and accelerate, the PUREVAP initiative focus on the multitude of opportunities that have come to light since defining our original mandate. As a result, we are confident that HPQ is going to make some significant headway over the coming months, the least of which will be to start the Gen3 PUREVAPTM Plant commissioning and testing program. 

Yes, over that last 24 months our shares prices as been stuck in relatively thigh trading range (0.055 to 0.12)

Having said that, people are forgetting that PyroGenesis is HPQ largest individual shareholder, so whatever pain you may be feeling about HPQ share prices, their pain is bigger... 

Finally, the best way to judge an individual stock market credibility is comparing its share performance versus comparable companies and it's market, and in that regards HPQ performance over the last two years is respectable.

Over the last 24 months:

The TSX-V index has lost 32.24% in value...

While 

CRE (Lithium play) Critical Element has lost 78.18% of its value

NMX (Lithium Play) Nemaska Lithium has lost 92.83% of its value 

and Quebec media darling

NOU (Graphite play) Nouveau Monde graphite has lost 56.99% of its value.

During the same period, HPQ only lost 5.88% of its value, but that does not take into consideration the almost 10% dividend yield of the BGF spin out investors received in December last year...

That is much more then one can say about the prefered play of some members of the "suicide Crew" of past:  ARGEX...

Hope this gives you a better perspective of HPQ past performance…

Rest assured my goal is to deliver on the potential of our project in the coming years

Regards,

Bernard Tourillon

President and CEO