Hi Saint,

Apology accepted.

A company usually implement "Shareholder Protection Right" plans when they feel they are at risk of an unsolicited "low ball" takeover offer from competitors trying to get there hands on their assets.

The aim is to make the unsolicited offer more expensive for the buyer in order to and get them to negotiate a higher price takeover. It does not always work, but it is also another way for Management to send a message to the market that they feel that their Company valuations are not as high as what they think it should be.

It was not me that mention the subject in the video, it was one of our Director Daryl Hodges that did, and I believe that what he was trying to convey is that when the time is right for us to have such a plan in place we will take the required steps.

Right now, with PyroGenesis, IQ (Quebec Government), insiders and other key investors close to management, we control over 50% of the fully diluted float of HPQ, so the odds of a low ball takeover offer succeeding is pretty small.

Regards,

Bernard Tourillon