- HPQ Silicon (HPQ) has sold its remaining quartz exploration properties to Quebec Silica Resources Corp (QTZ) for $300,000
- The Roncevaux property is made up of 27 claims covering a total of 1,551 hectares
- The Martinville Property is made up of 36 claims covering a total of 2,179 hectares
- HPQ will transfer 100 per cent interest in both properties to QTZ for 3,000,000 acquisition units of Quebec Silica Resources
- Québec Silica is a mineral exploration company focused on exploration properties in Québec
- HPQ-Silicon Resources is a Quebec-based company that offers silica and silicon-based solutions to battery and electric vehicle manufacturers
- HPQ Silicon Inc. (HPQ) opened trading at C$0.285
HPQ Silicon (HPQ) has sold its remaining quartz exploration properties to Quebec Silica Resources Corp for $300,000.
The Roncevaux property is in the Matapedia region of Gaspé and comprises 27 claims covering a total of 1,551 hectares available for exploration. The Martinville Property is in the Eastern Township, 180 km east of Montreal and 30 km south of Sherbrooke. It comprises 36 map-designated cells (Claims) covering 2,179 hectares available for exploration.
Under the terms of the transaction, HPQ agrees to transfer 100 per cent interest in both properties to QTZ, and QTZ agrees to issue to HPQ 3,000,000 acquisition units for $0.10 unit. Each acquisition unit consists of one common share and one-half of one warrant. Each warrant entitles HPQ to subscribe to one common share for three years.
The closing date of the transaction will be announced once all regulatory approvals have been received.
HPQ Silicon CEO Bernard Tourillon commented on the news.
“With HPQ now classified as a Tier 1 level Industrial, Technology or Life Sciences issuer; combined with the PUREVAP GEN3 QRR pilot plant about to come online, the time was right for us to move on from all exploration assets. HPQ’s value proposition is derived from harnessing the potential of its silicon materials innovations: the manufacturing and commercializing of silicon and nano silicon materials needed for ESG compliant silicon materials. With this transaction, we can focus all of our efforts on our silicon initiatives and let QTZ focus on developing quartz resources.”
Québec Silica is a mineral exploration company focused on acquiring and exploring mineral resource properties with an emphasis on the Charlevoix Silica Property located near St-Urbain, Québec, Canada.
HPQ-Silicon Resources (QTZ) is a Quebec-based company that offers silica and silicon-based solutions to battery and electric vehicle manufacturers.
HPQ Silicon Inc. (HPQ) opened trading at C$0.285.
