MONTREAL, Dec. 17, 2018 (GLOBE NEWSWIRE) -- HPQ Silicon Resources Inc (“HPQ”) (TSX Venture:
HPQ) is pleased to inform shareholders that, pursuant to the Plan of Arrangement and the Arrangement with Beauce Gold
Fields Inc. (BGF), HPQ declares the special dividends stemming therefrom and that December 24, 2018 will be the Record Date for the
distribution and the dividends consist of 10,680,000 Beauce Gold Fields common shares.
Only shareholders of record as at the share distribution record date will be entitled to receive the share
dividends. Shareholders of record on that date will receive one share of BGF, for 0.0480466 shares they own of HPQ, the
dividend per share ratio is subject to adjustment based on the number of shares of HPQ to be issued until the record date. December
31, 2018 would be the expected payment date. Fractional shares of BGF will be rounded down to the nearest whole number.
Shareholders who sell their HPQ shares prior to the share distribution record date will not be entitled to receive shares of
BGF. BGF confirms the definitive and unconditional closing of the plan of arrangement and BGF Private Placement of $550,000
announced on December 12, 2018.
Distribution Details:
Accordingly, HPQ will distribute 10,680,000 BGF shares to it’s shareholders on a pro rata basis of 0.0480466
shares for every HPQ shares they own hold as of close of business on the record date.
Issuer Name: |
|
HPQ-Silicon Resources Inc. |
Declaration Date: |
|
December 17, 2018 |
Security Symbol |
|
TSX-Venture Exchange: HPQ |
Type of Security: |
|
Common Shares |
Type of Dividend: |
|
Special Dividend distribution of BGF
Shares |
Record Date: |
|
December 24, 2018 |
Ex-Distribution Date: |
|
December 21, 2018 |
Payable
Date: |
|
December 31,
2018 |
The Company will announce the Listing Date of BGF shares on the Venture Exchange as soon as it receives
confirmation form the Exchange.
About Beauce Gold Fields
BGF is a wholly owned subsidiary of HPQ Silicon into which HPQ gold assets were transferred. Subject
to approval by TSX-V, HPQ is in the process of listing BGF as a new public junior gold company., following the approval by
shareholders during HPQ AGM held on Aug. 10, 2018, of the proposed terms of the plan of arrangement.
The Beauce Gold Fields project is a unique, historically prolific gold property located in the municipality of
Saint-Simon-les-Mines in the Beauce region of Southern Quebec. Comprising of a block of 152 claims 100% owned by HPQ, the project
area hosts a six kilometre long unconsolidated gold-bearing sedimentary unit (a lower saprolite and an upper brown diamictite).
Textural observations (angularity) of gold nuggets suggest a relatively proximal source and therefore a short transport distance.
The gold in saprolite indicates a close proximity to a bedrock source of gold, providing possible further exploration
discoveries. The property was also hosts numerous historical gold mines that were active from 1860s to the 1960s (see HPQ
SEDAR-filed report).
Beauce Gold Fields website www.beaucegold.com
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed resource company planning to become a vertically integrated and
diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of
the P and N types, required for production of high performance photovoltaic conversion.
HPQ’s goal is to develop, in collaboration with industry leaders, PyroGenesis (TSX-V: PYR) and Apollon Solar,
that are experts in their fields of interest, the innovative PUREVAPTM “Quartz Reduction Reactors (QRR)”, a truly 2.0
Carbothermic process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high
purity silicon metal (Si) in one step and reduce by a factor of at least two-thirds (2/3) the costs associated with the
transformation of quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of
the process is on schedule to start mid-2019.
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, President and CEO HPQ Tel (514) 907-1011
Patrick Levasseur, COO HPQ, President and CEO BGF Tel: (514) 262-9239
www.HPQSilicon.com