HPQ Silicon Closes Second Tranche of Private Placement
August 16 2019 - 2:30PM
HPQ Silicon Resources Inc.
- TSX-V: HPQ; FWB: UGE - (“HPQ” or “the
Company”) is pleased to announce that further to its press releases
of July 26th 2019, the Corporation has closed its non-brokered
private placement after having received late interest for a second
tranche. In this transaction, the Company issued and sold 350,000
units ("Unit") at $0.10 per Unit for a gross proceeds of up to
$35,000. Each Unit is comprised of one (1) common share and
one (1) common share purchase warrant (“Warrant") of the
Company. Each Warrant will entitle the Subscribers to
purchase one common share of the capital stock of the Company at an
exercise price of $ 0.15 for a period of 36 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.
In connection with the placement the Company
paid cash finder’s fee of $1,600 to StephenAvenue Securities Inc.
(“StephenAvenue”) of Toronto, Ontario. The Company also
issued 16,000 warrants to StephenAvenue. Each warrant, and
any share purchased through the exercise of the warrants have the
mandatory four (4) month and one (1) day holding period from the
date of closing of the placement and gives StephenAvenue the right
to purchase one (1) common share at 15.0 cents for 36
months.
In total, HPQ has issued and sold pursuant to
the private placement a total of 3,600,000 units for gross proceeds
of $360,000 to the corporation.
Bernard Tourillon, Chairman President and CEO of
HPQ Silicon stated: “While we were not seeking investors for a
second tranche, we were happy to accommodate investors that, like
myself, understood the value proposition that is HPQ by
participating in a placement at a premium to market.”
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed
company developing, in collaboration with industry leader
PyroGenesis Canada Inc. (TSX-V: PYR) 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 Metallurgical Grade Silicon
(Mg-Si) at prices that will propagate its significant renewable
energy potential.
HPQ is also working with industry leader Apollon
Solar to develop a metallurgical pathway of producing Solar Grade
Silicon (SoG Si) that will take full advantage of the PUREVAPTM QRR
one-step production of high purity silicon (Si) and significantly
reduce the Capex and Opex associated with the transformation of
quartz (SiO2) into SoG-Si.
HPQ’s focus is becoming the lowest cost producer
of Silicon (Si), High Purity Silicon (Si) and Solar Grade Silicon
(SoG-Si). The pilot plant equipment that will validate the
commercial potential of the process is on schedule to start in
2019.
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.
Disclaimers:
This news release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The securities have
not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
the securities laws of any state of the United States and may not
be offered or sold within the United States or to, or for the
account or the benefit of, U.S. persons (as defined in Regulation S
un der the U.S. Securities Act) unless registered under the
U.S. Securities Act and applicable state securities laws or
pursuant to an exemption from such registration requirements.
The Corporation’s interest in developing the
PUREVAP™ QRR and any projected capital or operating cost savings
associated with its development should not be construed as being
related to the establishing the economic viability or technical
feasibility of the Company’s Roncevaux Quartz Project, Matapedia
Area, in the Gaspe Region, Province of Quebec.
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
contactBernard J. Tourillon, Chairman, President and CEO
Tel (514) 907-1011 Patrick Levasseur, Vice-President and COO Tel:
(514) 262-9239 www.HPQSilicon.com
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