HPQ Silicon Inc V.HPQ

HPQ Announces Non-Broker Private Placement of Units

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2023-10-16 07:30 ET - News Release

MONTREAL, Oct. 16, 2023 (GLOBE NEWSWIRE) -- HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQB: HPQFF) (FRA: O08), a technology company specializing in green engineering processes for silica and silicon material production is pleased to announce that it intends to proceed with a non-brokered private placement of Units for up to $2,500,000. The Company intends to use the net proceed to finance its ongoing Silicon, Fumed Silica and Hydrogen initiatives and general corporate purposes.

Private placement highlights: Non-Brokered Private placement financing of up to 9,090,910 Units at a price of $0.275 per unit for a gross proceed of $2,500,000.

Each Unit is comprised of one (1) common share and one (1) common share purchase warrant of the Company. Each Warrant will entitle the holder thereof to purchase one common share of the capital stock of the Company at an exercise price of $ 0.30 for a period of 24 months from the date of closing of the placement. Each share issued pursuant to the placement will have a mandatory four (4) month and one (1) day holding period from the date of closing of the placement. This Placement is subject to the approval of the TSX-Venture and any other regulatory authorities. In connection with the placement, the company could pay finder's fee, in the form of cash, shares, warrants and or options.

Under special conditions and at its sole discretion, the company can increase the size of placement to $4,400,000.

About HPQ Silicon

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 five (5) pillars:

1. Becoming a zero CO₂ low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our proprietary PUREVAP^TM “Quartz Reduction Reactors” (QRR) being developed for HPQ by PyroGenesis.
    
2. Becoming a producer of silicon-based anode materials for battery applications with the assistance of NOVACIUM SAS.
    
3. Becoming a green low-cost (Capex and Opex) producer of Fumed Silica using our proprietary FUMED SILICA REACTOR being developed by PyroGenesis.
    
4. HPQ SILICON affiliate NOVACIUM SAS is developing a low carbon, chemical base on demand and high-pressure autonomous hydrogen production system.
    
5. Working to become the first producer of nano silicon materials from High Purity Silicon chunks using our proprietary PUREVAP^TM Nano Silicon Reactor (NSiR) being developed by PyroGenesis.

For more information, please visit HPQ Silicon web site.
 

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 [phone]
Patrick Levasseur, Director Tel: [phone]
Email: [e-mail]