MONTREAL, Feb. 08, 2019 (GLOBE NEWSWIRE) — HPQ Silicon Resources Inc. (HPQ) (TSX-V “HPQ”) announces that, by resolution adopted on February 8, 2019, its Board of Directors has authorized the application to the TSX Venture Exchange (the “Exchange”) for approval of the extension, until March 3, 2021, of the exercise date of 4,375,000 outstanding common share purchase warrants (the “Warrant”) issued under a non-brokered private placement completed by the Company during Q1 2016 (for more details, see the Company’s release dated February 29, 2016).
The 4,375,000 Warrants issued on March 4, 2016, are set to expire on March 3, 2019. The Warrants were exercisable for common shares of the Company at an original price of $0.12, but the price has been adjusted to $0.11 per common share pursuant to the Beauce Gold Field Inc spin out plan of arrangement. As of today, none of these purchase warrants has been exercised.
All other terms and conditions of the Warrant will remain the same. The proposed extension is conditional upon the receipt of the approval of the Exchange.
Mr. Bernard Tourillon, President and CEO of HPQ Silicon Resources Inc stated, “The decisions to extend this specific series of warrants was made for strategic reasons by the Corporation.”
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.
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed resource company focuses on becoming a vertically integrated and diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic conversion.
HPQ’s goal is to develop, in collaboration with industry leaders, PyroGenesis (TSX-V: PYR) and Apollon Solar, that are experts in their fields of interest, the innovative PUREVAPTM “Quartz Reduction Reactors (QRR)”, a truly 2.0 Carbothermic process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high purity silicon metal (Si) in one step and reduce by a factor of at least two-thirds (2/3) the costs associated with the transformation of quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule to start mid-2019.
Disclaimers:
Note For Distribution in the US. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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 securities 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.
For further information contact
Bernard J. Tourillon, Chairman President and CEO Tel (514) 907-1011
www.HPQSilicon.com
Shares outstanding: 222,284,053