HPQ Silicon Confirms Closing of $2.7M Private Placement at 50% Premium to Market
MONTREAL, Sept. 09, 2020 (GLOBE NEWSWIRE) -- HPQ Silicon Resources Inc. (“HPQ” or “the Company”) TSX-V: HPQ; FWB: UGE; Other OTC : URAGF; is issuing this press release in response to recent market activity. HPQ does not usually comment on stock price and trading activity, however, given recent activity and inquiries from investors, the Company would like to confirm that everything material about the Company’s operations has been disclosed and that HPQ is on target to produce our strongly sought-after nano silicon powders and nanowires for delivery and testing to battery industry parties in December.
The Company also confirms the September 3, 2020 closing of the $2,700,000 at $0.60, non-brokered private placement, announced on September 1, 2020. As a result of this financing, HPQ has never been as well funded to push forward on our nano silicon initiatives for the battery sector and others renewable energy applications, from which HPQ has currently announced two (2) NDA’s (Non-Disclosure Agreements).
“HPQ PUREVAPTM Quartz Reduction Reactor (QRR) and HPQ NANO PUREVAPTM Nano Silicon Reactor (NSiR) processes are unique processes that will allow us to deliver to advanced materials companies and battery manufacturers a cost competitive, tailor-made product, that can replace graphite in batteries and thereby allow the deployment of truly powerful next generation Li-ion batteries,” said Bernard Tourillon, President & CEO of HPQ Silicon. “These processes open up unique multibillion-dollar business opportunity for HPQ and PyroGenesis, as we strive to deliver the critical Silicon nano-materials required by the surging Li-ion battery market and other large renewable energy markets.”
INTEREST IN PUREVAPTM NSiR GAME CHANGING LOW COST POTENTIAL
Research indicates that replacing graphite with Nano Silicon (Si) Powders could allow the manufacturing of high-performance Li-ion batteries to deliver an almost tenfold (10x) increase in anode capacity, inducing a 20-40% gain in the energy density of the next generation of Li-Ion batteries. Silicon Nanomaterial potential to meet energy storage demand of the future is undeniable and is generating massive investments.
Despite the strong research and investment in Silicon nanomaterial, current manufacturing processes to make Nano Silicon powders are not scalable or commercially viable. By December of this year, HPQ will be on the starting blocks of demonstrating a process that can address both the scalability and cost hurdles required by the industry.
About Silicon
Silicon (Si), also known as silicon metal, is one of today’s strategic materials needed to fulfil the Renewable Energy Revolution (“RER”) presently under way. Silicon does not exist in its pure state; it must be extracted from quartz (SiO2), in what has historically been a capital and energy intensive process.
About HPQ Silicon
HPQ Silicon Resources Inc. (TSX-V: HPQ) is a Canadian producer of Innovative Silicon Solutions, based in Montreal, building a portfolio of unique high value specialty silicon products needed for the coming RER.
Working with PyroGenesis Canada Inc. (TSX-V: PYR), a high-tech company that designs, develops, manufactures and commercializes plasma - based processes, HPQ is developing:
- The PUREVAPTM “Quartz Reduction Reactors” (QRR), an innovative process (patent pending), which will permit the one step transformation of quartz (SiO2) into high purity silicon (Si) at reduced costs, energy input, and carbon footprint that will propagate its considerable renewable energy potential;
º HPQ believes it will become the lowest cost (Capex and Opex) producer of silicon (Si) and high purity silicon metal (3N – 4N Si); - The PUREVAPTM Nano Silicon Reactor (NSiR), a new proprietary process that can use different purities of silicon (Si) as feedstock, to make spherical silicon nanopowders and nanowires;
º HPQ believes it can also become the lowest cost manufacturer of spherical Si nanopowders and silicon-based composites needed by manufacturers of next-generation lithium-ion batteries;
º During the coming months, spherical Si nanopowders and nanowires silicon-based composite samples requested by industry participants and research institutions’ will be produced using PUREVAPTM SiNR.
HPQ is also working with industry leader Apollon Solar of France to:
- Use their patented process and develop a capability to produce commercially porous silicon (Si) wafers and porous silicon (Si) powders;
º The collaboration will allow HPQ to become the lowest cost producer of porous silicon wafers for all-solid -state batteries and porous silicon powders for Li-ion batteries.
º The plan is to deliver porous Si wafer to a battery manufacturer (under NDA) for testing in 2020.
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:
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 any of the Company’s Quartz Projects.
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 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.
For further information contact
Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011
Patrick Levasseur, Vice-President and COO Tel: (514) 262-9239
http://www.hpqsilicon.com Email: Info@hpqsilicon.com
