Stock Markets
HPQ Announces Appointment of new Auditors
MONTREAL, Nov. 07, 2024 (GLOBE NEWSWIRE) — HPQ Silicon Inc. (HPQ or the Company) (TSX-V: HPQ, OTCQB: HPQFF, FRA: O08), a technology company specializing in the green engineering of silica and silicon-based materials is pleased to inform shareholders that, subsequently to its June 26th, 2024 press release regarding the reception of a notice of termination from KPMG S.E.N.C.R.L. (S.R.L.), (the Former Auditor), regarding the cessation of their duties and the non-renewal of their mandate, it has appointed Forvis Mazars S.E.N.C.R.L. (S.R.L.), as independent auditor of the Company, effective as of October 25, 2024 (the Successor Auditor).
The board of directors of the Company appointed the Successor Auditor as the new auditor until the next Annual General Meeting of the Company.
The Company has sent a Notice of Change of Auditor (the ‘Notice’) to the Former Auditor and to the Successor Auditor and has received a letter from each, addressed to the securities commissions in each of Quebec, British Columbia, and Alberta stating that they agree with the information contained in the Notice. The Notice, together with the letters from the Former Auditor and the Successor Auditor are available on www.sedarplus.ca.
“We are pleased to welcome Forvis Mazars S.E.N.C.R.L. as our new auditors, a step that signals a renewed commitment to transparency, growth, and strategic development,” said Bernard Tourillon, President and CEO of HPQ Silicon Inc. “While the transition took some time, we’re confident that our new audit partnership with Forvis Mazars strengthens our operational foundation and opens new avenues for collaboration with financial partners who share our vision for sustainable, silicon-based technology innovation.”
About HPQ
HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer.
HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions.
HPQ activities are centred around the following four (4) pillars:
- Becoming a green low-cost (Capex and Opex) manufacturer of Fumed Silica using the FUMED SILICA REACTOR, a proprietary technology owned by HPQ Silica Polvere Inc. (HSPI) being developed for HSPI by PyroGenesis.
- Becoming a producer of silicon-based anode materials for battery applications with the assistance of NOVACIUM SAS.
- HPQ SILICON affiliate NOVACIUM SAS is developing a low carbon, chemical base on demand and high-pressure autonomous hydrogen production system.
- Becoming a zero CO2 low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our PUREVAP™ Quartz Reduction Reactors (QRR), a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis.
For more information, please visit HPQ Silicon web site.
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the security’s regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Source: HPQ Silicon Inc.
For further information contact:
Bernard J. Tourillon, Chairman, President, and CEO Tel +1 (514) 846-3271
Patrick Levasseur, Director Tel: +1 (514) 262-9239
Email: Info@hpqsilicon.com
Source: HPQ Silicon Inc.
Stock Markets
Illinois top court reverses actor Smollett’s false hate crime report conviction
By Eric Cox and Brad Brooks
CHICAGO (Reuters) – The Illinois Supreme Court on Thursday overturned the conviction of actor Jussie Smollett, the one-time star of the TV drama “Empire”, for staging a hate crime against himself in 2019.
The court agreed with defense arguments that Smollett should not have been charged a second time for filing a false hate crime report because prosecutors had already agreed to drop such charges against him in a negotiated agreement.
“We hold that a second prosecution under these circumstances is a due process violation, and we therefore reverse defendant’s
conviction,” Justice Elizabeth Rochford wrote in the opinion.
A jury in 2021 found Smollett guilty of five counts of disorderly conduct for falsely telling Chicago police that he was accosted on a dark Chicago street by two masked strangers in a racist and homophobic attack in 2019. The investigation revealed that Smollett, who is Black and gay, paid two men to stage the attack.
The actor was ordered to spend 150 days in jail, but was released after being confined for six days pending his appeal.
Smollett had claimed the attackers threw a noose around his neck and poured chemicals on him while yelling racist and homophobic slurs and expressions of support for then-President Donald Trump.
The original case against Smollett was dropped by Cook County prosecutors in the spring of 2019 in exchange for Smollett forfeiting his $10,000 bond without admitting wrongdoing.
The dismissal drew criticism from then-Mayor Rahm Emanuel and the city’s police superintendent, who called the reversal a miscarriage of justice. A special prosecutor was appointed in the summer of 2019 to investigate Smollett’s case, and new charges against him were brought in February 2020.
In a statement, Smollett’s attorney Nenya Uche said “the rule of law was the big winner today.”
Special prosecutor Dan Webb disagreed with the court’s decision and argued in a statement that there was precedent in state law to justify the second set of charges.
“Make no mistake – today’s ruling has nothing to do with Mr. Smollett’s innocence,” Webb said.
“The Illinois Supreme Court did not find any error with the overwhelming evidence presented at trial that Mr. Smollett orchestrated a fake hate crime and reported it to the Chicago Police Department as a real hate crime, or the jury’s unanimous verdict that Mr. Smollett was guilty of five counts of felony disorderly conduct,” Webb said.
The Cook County State’s Attorneys’ Office did not immediately respond to a request for comment.
Stock Markets
BV Financial stock hits 52-week high at $16.20 amid growth
In a remarkable display of financial resilience, BV Financial Inc. (BVFL) stock has soared to a 52-week high, reaching a price level of $16.20. This peak reflects a significant surge in investor confidence, as the company’s stock price has climbed an impressive 40.02% over the past year. The ascent to this new high underscores the bullish sentiment surrounding BV Financial’s performance and prospects, as shareholders celebrate the robust gains and market analysts watch closely for the company’s next moves in an ever-evolving economic landscape.
In other recent news, BV Financial has announced the approval of its 2024 Equity Incentive Plan and a significant 10% stock buyback program. The newly approved plan, backed by a majority of stockholder votes, aims to provide stock-based awards to the company’s officers, employees, and directors, aligning the interests of its key personnel with those of its shareholders. In addition, directors Joseph S. Galli, Timothy L. Prindle, and Matcheld V. Thomas were re-elected for a three-year term, and the appointment of FORVIS, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified.
The stock buyback program, the first since its mutual-to-stock conversion in July 2023, equates to approximately 1,138,772 shares and is expected to commence no earlier than August 1, 2024. It is set to continue until June 30, 2025, pending any extensions approved by the Board of Directors and the Federal Reserve. However, BV Financial has clarified that the program may be modified, suspended, or terminated at any time due to changing market conditions and investment opportunities. These are among the latest developments in the company’s strategic initiatives.
InvestingPro Insights
BV Financial Inc.’s (BVFL) recent stock performance aligns with the data from InvestingPro, which shows a substantial 50.8% price total return over the past six months. This surge is consistent with the article’s mention of the stock reaching a 52-week high. InvestingPro Tips highlight that BVFL has experienced a “large price uptick over the last six months,” corroborating the article’s narrative of significant investor confidence.
The company’s financial health appears solid, with InvestingPro data revealing a P/E ratio of 13.93, suggesting a reasonable valuation relative to earnings. Additionally, BVFL’s operating income margin stands at an impressive 47.67% for the last twelve months as of Q3 2024, indicating strong profitability. This is further supported by an InvestingPro Tip noting that the company has been “profitable over the last twelve months.”
For investors seeking more comprehensive insights, InvestingPro offers 6 additional tips for BVFL, providing a deeper understanding of the company’s financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Stock Markets
US court vacates SEC ‘dealer rule’ on Treasury markets
(Refiles to add missing word in 2nd paragraph)
By Douglas Gillison
(Reuters) -A federal judge in Texas on Thursday struck down the U.S. Securities and Exchange Commission’s overhaul of Treasury dealer rules adopted earlier this year, finding that the agency had overstepped its legal authority in issuing the regulations, according to court records.
The decision marked at least the third time in a year that a court had vacated prominent SEC regulations and the latest blow from a conservative-leaning judiciary to policy goals under President Joe Biden, who is due to step down in January.
The changed legal environment has hampered the SEC’s ability to pursue its regulatory agenda this year.
“The Court holds that the Rule is in excess of the Commission’s authority based on the text, history, and structure” of the SEC’s founding statutes, U.S. District Judge Reed O’Connor of the Northern District of Texas said in an opinion.
Adopted in February over Republican officials’ objections, the rule required proprietary traders and others who routinely deal in government bonds and other securities to register as broker-dealers.
The rule aimed to address liquidity problems in the $26 trillion Treasury market, something market players said was part of the biggest market structure overhaul in decades.
An SEC spokesperson said the agency was reviewing the decision before deciding on next steps.
The case was brought by the Managed Funds Association and other trade groups representing the investment industry. O’Connor also reached the same outcome on Thursday in a separate case brought by the Blockchain Association and the Crypto Freedom Alliance of Texas, two cryptocurrency organizations.
The Alternative Investment Management Association, which had brought suit with MFA, hailed the news, saying the decisions spared hedge fund managers from “severe and adverse consequences” from what it said would have been sweeping and unprecedented changes.
Courts in December and June also struck down SEC rules on share buybacks and disclosures by private fund advisers. At least three other rules remain subject to legal challenges.
However observers say they expect President-elect Donald Trump’s administration may simply settle them in favor of industry after taking office next year.
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