HPQ Silicon Strengthens Its Balance Sheet and Solidifies Its Position as an Innovative Manufacturer of Silicon Materials for ...
22 Junho 2021 - 4:30PM
Innovative Silicon Solutions company HPQ Silicon Resources Inc.
(“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQX: HPQFF)
(FWB: UGE), is pleased to announce that Investissement Québec
(IQ) completed the following financial transactions today:
- An increase of $2,325,000 in the Company's liquidity through
the exercise of 15,000,000 warrants;
- A reduction of $2,076,984 in Company debt through the early
conversion of a $1,800,000 convertible debenture and the payment in
shares of $276,984 of accrued interest related to the
debenture.
Settlement in shares of interest payable
to Investissement Québec Pursuant to the terms of the
$1,800,000 debenture issued by the Company to Investissement Québec
(IQ) dated August 20, 2018 and in furtherance of IQ's decision to
convert the interest owed to it to date, the Board of Directors of
HPQ has approved the issuance of 452,072 common shares at a deemed
price of $0.61 per share to pay $276,984 in accrued interest
incurred to date. Each share issued pursuant to the debt settlement
will be subject to a mandatory hold period of four (4) months and
one (1) day from the closing date. This transaction is subject to
the approval of the TSX Venture Exchange.
If the Exchange approves the conversion of the
interest in common shares, IQ will hold just over 10% of the
Company's capital.
Silicon, a promising anode material,
but… Despite intensive research efforts and significant
investments in silicon battery materials, current manufacturing
processes remain unscalable or even commercially unviable. This
explains why even though silicon (Si) is theoretically a superior
anode material for Li-ion batteries than graphite, it is currently
included in less than 5%1 of commercial battery anodes and its use
is limited to a few advanced Li-ion battery manufacturers. The NSiR
PUREVAPTM developed by PyroGenesis is a game-changer and solves the
scalability and commercial viability issues of silicon (Si) for the
Li-ion battery market.
The presence of silicon as an anode
material in Li-ion batteries will increaseAdvances made in
research on the use of silicon (Si) in Li-ion battery anodes
indicate that by 2030, up to 30% of the active anode materials for
Li-ion batteries used in electric vehicles could be silicon.2 This
increase, combined with the expected exponential growth in demand
for electric vehicles, will create a very high demand for the
battery-grade silicon (Si) that HPQ and PyroGenesis are developing,
with an estimated market of over 200,000 MT per year by 2030.
Innovative processes are necessary for
the development of a silicon for batteries industry in Quebec and a
new-generation of lithium-ion batteriesHPQ Silicon
Resources Inc. (TSX-V: HPQ) is a Quebec-based innovative silicon
solutions company that since 2015 offers innovative silica (SiO2),
silicon (Si) based solutions and is developing a unique portfolio
of high-value-added silicon (Si) products sought 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), 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. Through its 100% owned
subsidiary, HPQ NANO Silicon Powders Inc., the PUREVAPTM Nano
Silicon Reactor (NSiR) is a new proprietary process that can use
different purities of silicon (Si) as feedstock, to make a wide
range of nano/micro spherical powders of different sizes and
nanowires. 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 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.
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
For further information
contact:
Bernard J. Tourillon, Chairman, President and
CEO, Tel: (514) 907-1011Patrick Levasseur, Vice-President and COO,
Tel: (514) 262-9239http://www.hpqsilicon.com Email:
Info@hpqsilicon.com
____________________1 Source:
Pallinghurst-Traxys battery analysis (Présentation NOU)2
Source : Roskill
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