Last Component of HPQ GEN3 Quartz Reduction Reactor Has Shipped, Q4 Commissioning on Track
MONTREAL, Aug. 18, 2021 (GLOBE NEWSWIRE) -- HPQ Silicon Resources Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQX: HPQFF) (FWB: UGE), an innovative silicon solutions company, is pleased to inform shareholders that further to our June 10, 2021 release, technology provider, PyroGenesis Canada Inc. (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), has confirmed that, after all the COVID related delays, the GEN3 PUREVAPTM Quartz Reduction Reactor (“QRR”) power supply, the final missing component, has shipped from the manufacture and is on route to PyroGenesis production facility in Montreal. This milestone is another step toward our Q4 2021 GEN3 PUREVAPTM QRR commissioning and start.
“Knowing that the power supply is finally on its way confirms that we are getting closer to the start the GEN3 PUREVAPTM QRR, closer to making battery grade silicon (Si) and closer to validating the commercial potential of the PUREVAPTM QRR process,” said Bernard Tourillon, President and CEO of HPQ Silicon. “In addition to its traditional applications, silicon is just beginning its path to battery utilization. The addressable markets for our Silicon products are massive, diverse and with our pilot plant operational, we will be well positioned to start looking for additional downstream applications where our product can be of value.”
OTHER CORPORATE NEWS
WARRANT EXERCISE: The corporation liquidity has increased by $2,518,750 through the exercise of the remaining 16,250,000 August 21, 2021, warrants.
DEPT SETTLEMENT: In accordance with the agreement between HPQ-Silicon and Agora Internet Relations Corp. entered on July 15, 2020, for the term ending July 15, 2021, HPQ-Silicon board has approved:
- The issuance of 14,267 common shares at a deemed price of $0.99 per share to pay $14,125 for services rendered during the period from October 16, 2020, ending January 15, 2021.
- The issuance of 15,353 common shares at a deemed price of $0.92 per share to pay $14,125 for services rendered during the period from January 16, 2021, ending April 15, 2021, and
- The issuance of 20,471 common shares at a deemed price of $0.69 per share to pay $14,125 for services rendered during the period from April 16, 2021, ending July 15, 2021.
Each share issued pursuant to the debt settlement will have a mandatory four (4) month and one (1) day holding period from the date of closing. This debt settlement is subject to the approval of the TSX Venture Exchange.
CLARIFICATION: HPQ hereby makes a clarification on terms contained in its press release issued June 22, 2021, in order to specify that the number of common shares issued must be 454,072 common shares.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. For more information, please visit: www.pyrogenesis.com.
About HPQ Silicon Resources
HPQ Silicon Resources Inc. (TSX-V: HPQ) is a Quebec-based innovative silicon solutions company that offers innovative silica (SiO2), silicon (Si) based solutions and is developing a unique portfolio of high value-added silicon (Si) products sought after by battery and electric vehicle manufacturers.
Silicon (Si), also known as silicon metal, is one of today’s key strategic materials needed for the decarbonization of the economy and the Renewable Energy Revolution (“RER”). However, silicon does not exist in its pure state and must be extracted from quartz (SiO2) in what has historically been a capital and energy-intensive process.
With PyroGenesis Canada Inc. (TSX: PYR) (NASDAQ: PYR), 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.
- Through its 100% owned subsidiary, HPQ NANO Silicon Powders Inc., the PUREVAPTM Nano Silicon Reactor (NSiR) is a new proprietary process that can use material produced by the QRR as feedstock, to make a wide range of nano/micro spherical powders of different sizes and nanowires.
- Through its second 100% owned subsidiary, HPQ Silica POLVERE Inc., HPQ is developing a new plasma-based process that will allows a direct Quartz to Fumed silica transformation, removing the usage of hazardous chemical in the making of Fumed silica and eliminating the Hydrogen Chloride Gas (HCI) associated with its manufacturing.
For more information, please visit HPQ Silicon web site.
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 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 Resources Inc.
For further information contact:
Bernard J. Tourillon, Chairman, President and CEO Tel +1 (514) 907-1011
Patrick Levasseur, Vice-President and COO Tel: +1 (514) 262-9239
Email: Info@hpqsilicon.com
