HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX
VENTURE:HPQ)(FRANKFURT:O08)(OTC:HPQFF), an innovative silicon
solutions and technology development company, would like to inform
shareholders that it also recently observed unusual trading of its
common stocks.
HPQ does not usually opine on stock price and or
trading activity.
However, given last week's unusual market
activity combined with inquiries from investors—asking for
clarification on the identity of a seller; after anonymous
individuals on social media made claims that the seller was
PyroGenesis, HPQ management felt it had no other option but to:
- Confirm that everything material
has been disclosed by the company in either its press releases or
quarterly reports, and
- Inform shareholders that
PyroGenesis Canada Inc. was not the seller behind last week’s
unusual trading activity, contrary to the allegations made on
social media.
HPQ contacted PyroGenesis about the sales, and
they confirmed that they were not the seller of the said HPQ
shares, and that PyroGenesis does not have, and never had any
brokerage accounts at Scotia, the brokerage house from which a bulk
of the unusual trading activity was made.
PyroGenesis made the following statement
regarding their strategic investment in HPQ:
“Let there be no doubt that PyroGenesis views
its strategic investment in HPQ as one that we wish to build upon
over time,” stated Mr. P. Peter Pascali, CEO of PyroGenesis Canada
Inc. “Although we may from time to time be buyers or sellers in the
marketplace of HPQ stock, our strategic position is to add to our
position when appropriate. Having said that, we wish to confirm
that we do not have any brokerage accounts at Scotia and, as such,
could not have been behind the trading activity described
above.”
HYDROGEN UPDATEFurther to our
December 8, 2021, release, HPQ would like to inform shareholders
that the HPQ validation team at Novacium, our France – based
R&D team, completed two separate EBH2 validation tests over the
last few months. Unfortunately, the results of both tests did not
allow the validation of EBH2 key claims but does demonstrate the
utility of our new business venture with Novacium (see September
15, 2022 release). As a result, HPQ is no longer pursuing the
venture with EBH2 as described in our August 24, 2021, release. We
may revisit this opportunity if EBH2 has more success with the new
generation generator they are developing.
“Novacium’s technical expertise in hydrogen
R&D and their adherence to scientific processes guided a due
diligence report which based on its conclusion allowed HPQ to
terminate the EBH2 venture as it did not meet criteria set in the
agreement.” Commented Bernard Tourillon, President, and CEO of HPQ
Silicon Inc. “In regard to the rigorous processes that Pyrogenesis
has applied to the QRR project, while it may have taken more time
than anticipated to get where we are now, the rigorous scientific
approach will soon reap benefits and our future has never looked so
bright. The fact is that HPQ Silicon is advancing on all its
projects, and we have de-risked the Company over the years and
going forward we will continue to do so."About HPQ
Silicon HPQ Silicon Inc. (TSX-V: HPQ), is a
Quebec-based innovative silicon solutions company that offers
silica (SiO2) and 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, among other
industries. On July 21, 2022, HPQ started trading as a Tier 1
Industrial Issuer on the TSX Venture Exchange.
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
granted in the United States and pending in other jurisdictions),
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 and
nanowires of different sizes.
-
Through its second 100% owned subsidiary, HPQ Silica POLVERE Inc.,
HPQ is developing a new plasma-based process that allows a direct
Quartz to Fumed silica transformation, removing the usage of
hazardous chemicals in the making of Fumed silica and eliminating
the Hydrogen Chloride Gas (HCI) associated with its
manufacturing.
HPQ is also a technology development company
interested in developing hydrogen-based ventures, that could be
complementary to the QRR efforts. Currently, HPQ is working with
Novacium developing processes for making hydrogen via hydrolysis of
silicon and other materials.
For more information, please visit HPQ Silicon
web site.
Disclaimers:
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 Inc.
For further information
contact: Bernard J. Tourillon, Chairman, President, and
CEO Tel +1 (514) 907-1011Patrick Levasseur, Special Advisor to the
CEO Tel: +1 (514) 262-9239Email: Info@hpqsilicon.com
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