HPQ Silicon Resources Inc., Montreal, Canada, (TSX-V: HPQ; FWB: UGE; Other OTC: URAGF) has announced that it is closing a non-brokered private placement of 4,500,000 units at $0.60 per unit for gross proceeds of $2,700,000 with the two following Placees:
– PyroGenesis Canada Inc., Montreal, Canada, (TSX-V: PYR), a high-tech company, that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products has subscribed for 4,000,000 units in the placement for a gross proceeds of $2,400,000;
– ThreeD Capital Inc., Toronto,(CSE: IDK) (OTTCBB: IDKFF) a Canadian venture capital firm that invests in disruptive companies has subscribed for 500,000 units in the placement for a gross proceeds of $300,000.
“This transaction is a further demonstration of the strength of the HPQ – PyroGenesis cooperation as we develop both the PUREVAP™ Quartz Reduction Reactor (QRR) and the PUREVAP™ Nano Silicon Reactor (NSiR) processes. Furthermore, the participation of legendary Venture Capital Financier Sheldon Inwentash in a Private Placement that values HPQ market capitalization over the $150 Million threshold is strong vote of confidence in what we are doing,” said Bernard Tourillon, President & CEO of HPQ Silicon. “Our PUREVAP™ processes open up unique business opportunities with multibillion-dollar addressable markets for HPQ, PyroGenesis, and our shareholders, as we strive to deliver the critical Silicon nano-materials required by the surging Li-ion battery market and other renewable energy sectors.”
“It is indeed a pleasure to participate in this private placement and increase our position in HPQ,” said P. Peter Pascali CEO and Chairman of PyroGenesis Canada Inc. “Not only do we find this to be a unique opportunity to invest in a business that has enormous potential for growth, but one that is supported by a visionary management and Board. We are confident that this investment will play out very well for us and our investors, and we look forward to consider adding to our position should the opportunity arise in the future.”
In addition to participating in the Placement, HPQ is pleased to announce that ThreeD Capital Inc CEO Sheldon Inwentash has agreed to act as a strategic advisor to HPQ management as we embark in the start of this new and exciting phase of our development.
About Silicon
Silicon (Si), also known as silicon metal, is one of today’s strategic materials needed to fulfill the Renewable Energy Revolution (“RER”) presently underway. Silicon does not exist in its pure state; it must be extracted from quartz (SiO2), in what has historically been capital and energy-intensive process.
About HPQ Silicon
HPQ Silicon Resources Inc. 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., a high-tech company that designs, develops, manufactures, and commercializes plasma-based processes, HPQ is developing:
a. The PUREVAP™ “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; HPQ believes it will become the lowest cost (Capex and Opex) producer of silicon (Si) and high purity silicon metal (3N – 4N Si);
b. The PUREVAP™ 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;
i. 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;
ii. During the coming months, spherical Si nanopowders and nanowires silicon-based composite samples requested by industry participants and research institutions’ will be produced using PUREVAP™ SiNR.
HPQ is also working with industry leader Apollon Solar– Groupe YRIEL of France to:
– Use their patented process and develop a capability to produce commercially porous silicon (Si) wafers and porous silicon (Si) powders;
i. 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.
ii. The plan is to deliver porous Si wafer to a battery manufacturer (under NDA) for testing in 2020.
