Bernard's mail response - regarding future financing rounds
Dear Terry,
Thank you for your questions, regarding future financing rounds for completion of the test plant and the final payment to PyroGenesis?
Our present cash position is more then adequate to allow us to meet out operational needs for the coming months.
In our press release we mentioned that our next payment to PyroGenesis are only due at the end of the year since these payment are related to the final completion of the Pilot equipment construction and assembly. This information is still accurate and pertinent. We have no immediate plans to seek funding now.
We intend to finalize our funding and financing plans as soon as we have concluded our ongoing discussions with Government related funding agencies. While we have not received any guarantee of funding as of today, we remain optimist about our project chances of moving forward to the next decision level.
Finally, as we have a significant numbers of warrants outstanding that will be maturing between December 2017 and December 2018, we intend to prioritize exercise of warrants already issued over seeking funding via new private placements.
Regards,
Bernard Tourillon
CEO HPQ-Silicon Resources Inc.