Who Is HiTest? - The Other Men Behind the Name (Part II)

Who Is HiTest? - The Other Men Behind the Name (Part II)

More information has been found on the HiTest investors and officers and expenditures. This is a partial report of publicly available documents.

Silica Investments, Inc. invoiced Clark Builders for design services for the HiTest Silica Production Facility. Earlier documents obtained indicated that the plant has been under design for two years.

Several invoices have been obtained, with copies being sent to James Tymko of HiTest Sands.

12/31/2016 - $150,267.70
  2/28/2017 - $65,734.41
  3/31/2017 - $188,000.00

Progress to date (3/31/2017) was $404,002.11. What makes this interesting is it is pretty clear that HiTest has gone ahead and proceeded with design work before land was purchased (or located, allegedly).

Silica Investments, Inc., appears to be raising money for the HiTest Sands project. These are the directors, executive offices and promoters for Silica Investments, Inc.

Information obtained from SEDAR Form 45-106F1 Report of Exempt Distribution Filing (dates 6/8/2016, 10/11/2016, 12/12/2016, 4/24/2017).

You will need to enter in "Silica Investments, Inc." to search listings. You must have Acrobat Reader installed to download and view these documents properly.

John Carlson, Alberta - CEO, (D) (O) - jcarlson@hitestsand.com
Jayson Loren Tymko, Alberta - (D) (O)
Glen Vinet, Alberta - (D)
John B. Carter, Nova Scotia - (D) (O)
Sunir Chandaria, Ontario - (D)
Michael Wilde, Alberta - (O)
D = Director
O = Executive Officer

Silica Investments was formed 9/26/2016.
Size of assets: $0 to under $5M.
SEDAR profile number: 00039006

Original share prices was fixed at $7.60 per Class "A" Common Share issued.

June 2016 Filing (dates apply to preceding quarter). 314,528 Shares @10.75. Total amount $3,206,540.36

October 2016 Filing Types of Securities Distributed: 98,684 Class "A" Shares @9.9690. Total amount $983,775.00

December 2016 Filing Types of Securities Distributed: 49,570 Class "A" shares @10.0870. Total amount $500,000.00

April 2017 Filing Types of Security distributed: 15,000 Class "A" shares @$10.0560. Total amount - $150,833.40. Total shares (if added together) - 477,782.

No additional Silica Investments, Inc. filings were found on SEDAR for summer or fall 2017.

Total funds raised $4,841,148.80 according to these reports. Total shares if added together are 477,782. That is an enormous amount of shares to my eyes, perhaps someone else can explain this.

This isn't even close to the required funds to build the proposed plant - or hardly enough to even pay for the road construction ($3.6 million just for the west access road for employee traffic from Highway 2).

There are many, many other "access" costs alone that will require significant funding and financial resources, including the heavy-haul west access road from Highway 41, power line transmission and water, sewer facilities.

SEDAR does not have any listings for HiTest Sands, Inc. or any combination thereof.

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Glen Vinet - Silica Investments, Inc. Director
Vinco Management Inc., President
3920-44 Avenue Camrose, Alberta
Claims "Industrial Land Development".
Source 1

LinkedIn profile: https://www.linkedin.com/in/glen-vinet-6b078027/
Facebook profile: https://www.facebook.com/glen.vinet

The closest match found points to a mini-storage facility address.

Possible connection to RE/MAX though Trevor Vinet who is a Development Manager at Vinco Management Inc. as of 2010. Trevor Vinet is a real estate agent with RE/MAX: http://realestatecamrose.alberta.remax.ca/agents/23968039/trevor-vinet/

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John B. Carter - Silica Investments Inc. Director / Chair of the Audit Committee
LinkedIn profile: https://www.linkedin.com/in/john-b-carter-40b11661/

Retired as partner with Ernst & Young after 39 years, a "a global leader in assurance, tax, transaction and advisory services." Source 1 Source 2

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Sunir Chandaria - Silica Investments, Inc. Director

"Mr. Sunir Chandaria is the Co-Owner of Chandaria Family Holdings Inc. Mr. Chandaria has been the President of the LePage's 2000, Inc. division of Conros Corporation since 2009. Mr. Chandaria also represents Conros in a consortium of multinational companies that is exploring Information Communications Technology opportunities in Kigali, Rwanda, including the establishment of a regional data centre and IT infrastructure investment. He serves as a Director at Ontario Lottery and Gaming Corporation. He is a recipient of the Duke of Edinburgh's Gold Award; he has since served on the Award's Board of Directors in Ontario and served as the inaugural Chairman of the Duke of Edinburgh's Award Young Fellowship on its launch in 2008. He has been a Director of Xylitol Canada Inc. since September 7, 2017. Mr. Chandaria is also a recipient of the Queen Elizabeth II Diamond Jubilee Medal. Mr. Chandaria graduated from Upper Canada College as Head Boy and pursued his undergraduate studies in Economics and Management at Oxford University and holds a Bachelor of Arts (Honours) from St. Peter's College in 2002." Source 1

Member of the Board of Directors Audit and Risk Management Committee Ontario Lottery and Gaming Corporation Source 2

"Ontario Lottery and Gaming Corporation (OLG) and its contract management companies employ nearly 17,000 people throughout the province. OLG is responsible for 24 gaming sites and sales of lottery products at approximately 9,800 retail locations across the province of Ontario. An Operational Enterprise of the Ministry of Finance, the Corporation is intended to provide gaming entertainment in an efficient and socially responsible manner that maximizes economic benefits for the people of Ontario, related economic sectors and host communities. Since 1975, OLG's activities have generated nearly $38 billion for the benefit of the Province of Ontario." Source 3

Appointed Director of Xylitol Canada Inc. Source 4

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Michael Wilde - Silica Investments, Inc. Executive Officer

https://www.facebook.com/pages/Michael-Wilde-Professional-Corp/615736575249898

May be affiliated with Wilde and Company: http://wildeandco.ca/

https://www.facebook.com/pg/Wilde-Company-Olson-Law-173231086093970/about/?ref=page_internal

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So far, it does not at all appear that either HiTest Sands, Inc., or Silica Investments, Inc. has the money to build the proposed silicon smelter. This, despite the strong opposition to the smelter locally, poses yet another significant problem for the entire community.

Where exactly is all the money going to come from?

I still don't know, but the other numbers that I've seen do indicate that a great deal of money will need to be brought to the table. The Washington State Grant requires a minimum private investment of $200 million. Public documents and reports allege $300 to $325 million will be brought in. That's a 33% difference - which is quite significant.

In any case, the real question should be "What money?". Since this has yet to be disclosed, we can only speculate and surmise what is really going on.

There is already strong indications that both State and Federal funds will be sought to build the plant, which is another huge red flag to me. Weren't we told that this was going to be outside, private investments by this Canadian firm? Why then would either the State's (Idaho is now very much a part of this process) or the U.S. Federal Government help fund a private, foreign company?

If the States get more involved, or the Federal Government is involved in funding any more of this project, that really means YOU are paying for this smelter in your backyard.

That's absolutely ridiculous - and insane.

There are other sources of financial "burdens" headed our way too, like higher property taxes, and higher electrical power rates. This isn't hyperbole either, it's been brought up several times now.

One way or the other, it is the people of this community that are expected to pay for this.

Angry yet? These people expect us to pay for the privilege of sucking in their toxic pollution.