(via Thenewswire.ca)
Montreal, Quebec, Canada /
TheNewswire / July 11, 2016 - Uragold (TSX Venture: UBR) is pleased to announce that its has received,
from Industry Canada, a Certificate of Amendment under the Canada Business Corporations Act confirming the legal name of the
Corporation has been changed to HPQ Silicon Resources Inc.
In addition, the Company will be changing its TSX Venture stock symbol to HPQ.
The exact date for the retirement of the old symbol and the start of trading under the symbol HPQ
has not yet been finalized by the exchange but is expect shortly. It will be preceded by the issuance of a bulletin by the
Exchange announcing the change.
REASON FOR NAME AND STOCK SYMBOL CHANGE
On March 11, 2016, the Company announced “Uragold Plans To Issue Dividend To Shareholders Via Spin Out Of Gold
Projects”. The purpose of the spin out was to segregate the company’s valuable but diverse holdings to
unlock even greater value for shareholders as follows:
-
1.High Purity Quartz & Solar Grade Silicon Metal Process – These assets
and operations will remain within HPQ Silicon Resources (formerly “Uragold Bay”).
-
2.The Beauce Gold Project – This asset will be spun out into a new
publicly listed vehicle, with details to be announced in the very near future. Shareholders of HPQ Silicon Resources
(formerly “Uragold Bay”) will receive shares in the new company.
Upon completion, shareholders of the company will own shares in two exciting companies, each of
which will independently focus and advance their respective assets to create even further shareholder value.
A NEW CORPORATE IDENTITY
“Our new corporate identity represents another milestone in the Company's
transformation into a vertically integrated and diversified High Value Specialty Materials Company. We will be exclusively focused
on becoming a High Purity Quartz Supplier and the Cleanest, Greenest and Lowest Cost Producer of Solar Grade Silicon Metal, thanks
to our exclusive worldwide licenses to use PyroGenesis’ PUREVAP™ Quartz Vaporization Reactor, (“QVR”),”
said Bernard J Tourillon Chairman and CEO. “We plan to reveal a more complete view of the HPQ
Silicon brand and an updated website in the comings weeks but wanted to provide advance notice of these changes to our valuable
shareholder base.”
About HPQ Silicon
HPQ Silicon Resources Inc (Formally Uragold Bay Resources) is
a TSX-V listed junior exploration company planning to become a vertically integrated and diversified High Value Specialty Materials
Company. Our Business model is focused on developing unique projects that can generate high yield returns and significant free cash
flow within a short time line.
High Value Specialty Materials
In September 2015, PyroGenesis announced that it had filed for a
provisional patent for the PUREVAPTM Quartz Vaporization
Reactor (QVR) process, which it noted was able to produce silicon, at a lower cost, while generating less CO2 emissions than current processes.
On April 19, 2016, PyroGenesis announced that early
test results of the PUREVAPTM QVR process have demonstrated that it can
transform high purity quartz into silicon metal. The PUREVAPTM QVR
validation program his now in its second stage whereby the operational parameters of the reactor are adjusted in
order to achieve the transformation of HPQ Silicon Quartz into Solar
Grade Purity Si.
On June 29, 2016, HPQ Silicon announced that first pass analytical process confirms the ability of
the PUREVAPTM process to create
high purity silicon metal exceeding 99.9% and that samples are to be sent to a specialized laboratory in the United States to
determine the precise purity levels of the Silicon Metal.
HPQ Silicon, with its worldwide exclusive usage of
PyroGenesis’ PUREVAP™ QVR, is endeavouring to become a vertically integrated Silicon Metal (98.5% Si), High Purity Silicon Metal (99.99% Si), Solar Grade Silicon Metal (6N
Purity / 99.9999% Si) and/or Higher (9N Purity / 99.9999999% Si) producer.
The PUREVAP™ QVR process’s big advantage is its one step direct transformation of Quartz into High Purity Silicon Metal Solar Grade Silicon Metal and/or
Higher Purity product, thereby potentially allowing Uragold to manufacture high value material for the same operating cost
presently being paid by traditional producers to make Metallurgical Grade Si (98.5% Si) using the traditional arc furnace approach.
The Science Behind PyroGenesis PUREVAP™ QVR Process Is Solid:
-Plasma arc based process can and has transformed High Purity Quartz into Mg
Si.
-Plasma arc based process can and is being used to purify Mg Si into higher value
materials such as Sg Si.
-Finally, refining Mg Si using an electron-beam furnace in a high vacuum-processing
environment has proven the concept of the elimination of elements whose vapor pressures are higher than that of silicon.
What is unique and ground breaking is the combination of these three proven processes into one
step.
A Green And Clean Company
HPQ Silicon Uragold, with its worldwide exclusive usage of
PyroGenesis’ PUREVAP™ QVR will also be implementing a
process to make Sg Si, which is estimated to generate 14.1 kg CO2 eq/Kg SG Si, versus the 54.0 kg CO2 eq/Kg SG
Si of emissions generated by the Siemens process (90% of the present production process). This represents 75% fewer
greenhouse gas emissions, which is justified by elimination of the emissions emanating from the use of chemicals, as well as,
energy consumption from the additional purification step.
High Purity Quartz Properties
HPQ Silicon is also the largest holder of High Purity Quartz
properties in Quebec, with over 3,500 Ha under claims. Despite the abundance of quartz, very few deposits are suitable for
high purity applications. High Purity Quartz supplies are tightening, prices are rising, and exponential growth is forecast.
Quartz from the Roncevaux property successfully passed rigorous testing
protocols of a major silicon metal producer confirming that our material is highly suited for their silicon metal
production.
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 on-going filings with the securities
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.
For further information contact
Bernard J. Tourillon, Chairman and CEO Tel (514) 907-1011
Patrick Levasseur, President and COO Tel: (514) 262-9239
www.uragold.com
Or
Carl Desjardins, Paradox Public Relations Inc., Tel (514) 341-0408
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