Developing Processes For The Low-Cost Manufacturing Of High Purity Silicon Metals For Next-Generation Lithium-ion Batteries

Achieved final critical milestones, completing a successful silicon pour

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Message: The news release - and a couple of questions

Hi A-G,

Don't be nervous asking me questions, it is part of the process of doing a DD on a stock.  I must keep reminding myself that I have 1,000 more info on what is going on and what has been going on in HPQ than most shareholders, so it's normal that investors ask questions about subjects that I think are self-explanatory.

Now regarding your specific questions:

Q1) The "issuance of 452,072 common shares at a deemed price of $0.61 per share" - Is there a reason it wasn't done at the market price on that day?

A1) Yes, the 2018 agreement covered that subject and in the agreement, it was agreed then that the payment in shares would be done at the lowest price authorized by the TSX-V.  

Q2) Once IQ owns > 10% of the shares does that entitle them to a place on the Board?

A2) No, there is no automatic board seat for a 10% holder, and in this specific case, the subject of IQ board participation was not included in the agreement.

Hope this helps,

Regards

Bernard Tourillon

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