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 update shareholders on a recent
patent filing related to its “Silicon-based anode material
initiative.”
HPQ filed a new provisional patent application in France related
to a continuous Silicon Oxide (SiOx) manufacturing process based on
a modified PUREVAPTM QRR design. As per French law, HPQ acquired
all rights held by the inventors for C$90,000.00. The patent
protects a unique QRR technology configuration that allows the
production of SiOx on the same equipment.
PATENT EXPANDS QRR TECHNOLOGY, WITH
MINIMAL DEVELOPMENT RISK
The new patented process has a significant advantage over the
standard process in that it enables continuous production of SiOx,
whereas the latter is produced in batches. The proposed process can
be applied to the QRR without major changes in reactor design,
reducing the technological development risks. Additionally, it is
worth noting that the price of SiOx is approximately 2 to 3 times
more expensive than silicon of the same purity [1].
“This new patent application enhances our value proposition for
Silicon-Based Anode materials,” said Mr. Bernard Tourillon,
President and CEO of HPQ Silicon Inc. “Our unique PUREVAPTM QRR
technology, as you know, can convert quartz into a low carbon 3N+
Si in a single step. A modified PUREVAPTM QRR will leverage this
3N+ Si to produce SiOx, which, as you also know, is highly coveted
by the battery industry.”
SILICON OXIDE (SiOx) MATERIALS FOR LITHIUM
BATTERIES
Silicon suboxides (SiOx) are a promising anode material with
high lithium storage capacity. Adding small amounts of silicon
oxide to graphite composite electrodes has become a significant
trend in the lithium battery industry [2]. This has driven demand
for silicon anode materials, which are estimated to reach a
potential demand of 300,000 tons by 2030 [3]. The selling price for
silicon-based anode materials ranges from US$30 per kg to US$50 per
kg [4].
“The growing importance of SiOx material, which necessitates 3N+
Purity Silicon feedstock for its production, in the burgeoning
multi-billion-dollar battery material market, is a fact that cannot
be emphasized enough,” added Mr. Tourillon.
OTHER NEWS: FIRST CLOSING OF PRIVATE
PLACEMENT
HPQ completed a first closing of its Non-Brokered Private
placement financing announced on October 16, 2023, for 1,225,000
units at a price of $0.275 per unit for a gross proceed of
$337,012.50.
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.
Mr. Bernard Tourillon, Chairman, President, CEO and Director of
HPQ, subscribed for 100,000 units in the placement. Following the
completion of the private placement, Mr. Tourillon will
beneficially own or exercise control or direction over, directly or
indirectly, 9,454,850 shares, representing 2.58 per cent of the
issued and outstanding Common Shares of the Company.
The participation of Mr. Tourillon in the private placement
constitutes a related party transaction within the meaning of
Multilateral Instrument 61-101 -- Protection of Minority Security
Holders in Special Transactions, and TSX Venture Exchange Policy
5.9 -- Protection of Minority Security Holders in Special
Transactions. In connection with this related party transaction,
the company is relying on the formal valuation and minority
shareholder approval exemptions of subsections 5.5(a) and 5.7(1)(a)
of MI 61-101, respectively, as the fair market value of the portion
of the private placement subscribed by Mr. Tourillon does not
exceed 25 per cent of the company's market capitalization. The
Board of directors of the Company has approved the Private
Placement, including the participation of Mr. Tourillon
therein.
Mr. Patrick Levasseur, a Director of HPQ, subscribed for 100,000
units in the placement. Following the completion of the private
placement, Mr. Levasseur will beneficially own or exercise control
or direction over, directly or indirectly, 4,540,875 shares,
representing 1.24 per cent of the issued and outstanding common
shares of the company.
The participation of Mr. Levasseur in the private placement
constitutes a related party transaction within the meaning of
Multilateral Instrument 61-101 -- Protection of Minority Security
Holders in Special Transactions, and TSX Venture Exchange Policy
5.9 -- Protection of Minority Security Holders in Special
Transactions. In connection with this related party transaction,
the company is relying on the formal valuation and minority
shareholder approval exemptions of subsections 5.5(a) and 5.7(1)(a)
of MI 61-101, respectively, as the fair market value of the portion
of the private placement subscribed by Mr. Levasseur does not
exceed 25 per cent of the company's market capitalization. The
Board of directors of the Company has approved the Private
Placement, including the participation of Mr. Levasseur
therein.
Mrs. Noëlle Drapeau, HPQ Corporate Secretary and a Director,
personally and though its company 6710018 Canada Inc., subscribed
for 100,000 units in the placement. Following the completion of the
private placement, Mrs. Drapeau will beneficially own or exercise
control or direction over, directly or indirectly, 1,133,000
shares, representing 0.31 per cent of the issued and outstanding
common shares of the company.
The participation of Mrs. Drapeau in the private placement
constitutes a related party transaction within the meaning of
Multilateral Instrument 61-101 -- Protection of Minority Security
Holders in Special Transactions, and TSX Venture Exchange Policy
5.9 -- Protection of Minority Security Holders in Special
Transactions. In connection with this related party transaction,
the company is relying on the formal valuation and minority
shareholder approval exemptions of subsections 5.5(a) and 5.7(1)(a)
of MI 61-101, respectively, as the fair market value of the portion
of the private placement subscribed by Mrs. Drapeau does not exceed
25 per cent of the company's market capitalization. The Board of
directors of the Company has approved the Private Placement,
including the participation of Mrs. Drapeau therein.
In connection with the Offering, Red Cloud Securities
Inc. of Toronto, Ontario,
received a cash commission equal to $3,300 and the Company issued
to them 12,000 broker warrants. Each Broker Warrant will entitle
the Broker to acquire one common share of the company at a price of
$0.30 per share for a period of 24 months following the Closing
Date.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. 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 any state securities
laws and may not be offered or sold within the United States or to
U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
OTHER NEWS:
After a careful review of the Nano Silicon
material market environment, the technology advancement and
associated future development costs needed to get the PUREVAPTM
Nano Silicon Reactor (NSiR) to a potential commercial stage, HPQ
has advised its technology provider that it no longer intends to
pursue the development of this technology. Instead, the company
would focus its resources on other market-ready and more promising
initiatives, such as its Fumed Silica Reactor project and
silicon-based anode material initiative.
REFERENCE SOURCES
[1] |
Information from supplier quotes received by Novacium SAS |
[2] |
The Royal Society of Chemistry
2020 Sustainable Energy Fuels, 2020, 4, 5387–5416 |
[3] |
QY Research, SNE Research,
Shinhan Securities / NBM June 2023 Deck page 11 |
[4] |
Information from supplier quotes
received from GH Technologies (adjusted to include freight and
duties) |
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
four (4) pillars:
1) |
Becoming a green low-cost (Capex and Opex) manufacturer of Fumed
Silica using the FUMED SILICA REACTOR, a
proprietary technology owned by HPQ being developed for HPQ by
PyroGenesis. |
2) |
Becoming a zero CO2 low-cost
(Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using
our PUREVAPTM “Quartz
Reduction Reactors” (QRR), a proprietary technology owned
by HPQ being developed for HPQ by PyroGenesis. |
3) |
Becoming a producer of
silicon-based anode materials for battery applications with the
assistance of NOVACIUM SAS. |
4) |
HPQ SILICON affiliate NOVACIUM
SAS is developing a low carbon, chemical base on demand and
high-pressure autonomous hydrogen production system. |
For more information, please visit HPQ Silicon
web site.
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 ongoing filings with the security’s
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.
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 +1 (514) 846-3271Patrick Levasseur, Director
Tel: +1 (514) 262-9239Email: Info@hpqsilicon.com
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