Ann: Cancellation of Unlisted Options, page-10

I have spoken to someone who spoke with the company. The options were issued to Canaccord to incentivise them to provide services to HXG. Canoccord has made a decision to step back from the graphite space globally and as i understand it Canaccord never provided the services in any meaningful way or will in the short term and agreed for the options to be cancelled. For obvious reasons the likelihood of a CR was not discussed. Like many of us have done for a number of years we continue to wait and watch developments with interest.