HPQ WELL-FUNDED TO ADVANCE ITS SILICON AND NANO-SILICON MATERIALS INITIATIVES IN BOTH BATTERIES & HYDROGEN
GlobeNewswire MAR 04, 2021 03:36 PM EST
March 04, 2021 (GLOBE NEWSWIRE) -- Innovative silicon solutions provider HPQ Silicon Resources Inc. (“HPQ” or the “Company”) ( TSX-V: HPQ ; FWB: UGE ; Other OTC :HPQFF ), is pleased to update investors on its financial position. Since January 1, 2021, the Company has raised an additional $1,269,250 through the exercise of options and warrants, and currently has over CAD$7.4 million cash equivalent in hand.
HPQ has the money to support it aggressive development strategy
In addition to the CAD$7.4 million, the cash value of outstanding in- the- money warrants (93% of them owned by PyroGenesis Canada Inc, Investissement Quebec (IQ), insiders and strategic investors) and options represent an additional $11.6 M cash available to fund our projects going forward.
“With access to over $19 M, HPQ has the necessary funds to continue its research and development to commercialization, of our PUREVAP™ family of processes. The funds available will also allow HPQ to investigate other potential game – changing opportunities. HPQ continues to look for synergistic opportunities in order to remain at the forefront of innovative processes for the storage and delivery of clean renewable energy ,” said Bernard Tourillon, Chairman and CEO of HPQ Silicon Resources Inc. “ HPQ’s Silicon R&D Consortium has the depth and flexibility to meet the challenges, as we strive to produce products for renewable energy storage participants and electric vehicle manufacturers, each of which is searching for cost-effective ways to increase the Silicon content of their batteries . We are very confident that the Silicon materials we are developing, with our expected low-cost scalable processes, will be in high demand for batteries, and by EV manufacturers and other participants in the ongoing renewable energy revolution.”