HPQ Announces Non-Broker Private Placement of Units
Private placement highlights: Non-Brokered Private placement of 2,300,000 Units at a price of $0.18 per unit for a gross proceed of $414,000. The Company reserves the right to increase the size of the Offering to a maximum of 5,283,050 Units, for maximum gross proceeds of $950,950.
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 $ 0.25 for a period of 48 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. The offering will be offered to accredited investors in accordance with applicable securities laws.
This Placement is subject to the approval of the TSX-Venture and any other regulatory authorities. In connection with the placement, the company could pay finder's fee, in the form of cash, shares, warrants and or options.
The company anticipates that insiders may subscribe for units and their participation could exceed 25 per cent of the offering, with the President and CEO, directly or via entities under his controls will subscribe for an amount of $200,160.
'We decided to proceed with a small financing at this time to provide HPQ with the foundation necessary to capitalize on the larger opportunities we are currently advancing,' said Bernard Tourillon, President and CEO of HPQ Silicon Inc.
About HPQ Silicon
HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based TSX Venture Exchange Industrial Issuer.
HPQ is a technology company focused on innovation in advanced materials and critical process development. In partnership with world-class technology leaders PyroGenesis Inc. and NOVACIUM SAS—of which HPQ is a shareholder—the company is developing the materials and process technologies essential to achieving net-zero goals.
HPQ activities are centred around the following pillars:
Becoming a green, low-cost (Capex and Opex) manufacturer of Fumed Silica using the FUMED SILICA REACTOR, a proprietary technology owned by HPQ Silica Polvere Inc., being developed for HSPI by PyroGenesis.
Working with R&D partner NOVACIUM SAS, to become a producer of silicon-based anode materials for battery applications.
Developing Innovative processes to generate and use Hydrogen:
METAGENE™, a low-carbon, chemical-based, on-demand, high-pressure autonomous hydrogen production system, is being developed by NOVACIUM SAS of which HPQ holds the exclusive North American (Canada, USA, and Mexico) license.
WASTE TO ENERGY (W2E), a new process to transform black aluminum dross into a valuable resource, is being developed by NOVACIUM SAS, of which HPQ holds the exclusive North American (Canada, USA, and Mexico) license. HPQ is also a shareholder in NOVACIUM SAS.
Becoming a zero-CO2 low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis.
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