- HPQ Silicon (TSXV:HPQ) will undertake a non-brokered private placement for up to $2.5 million
- The company will allocate the proceeds to general corporate purposes, as well as to further development of its silicon, fumed silica and hydrogen initiatives
- HPQ Silicon develops green technologies to provide the critical materials required to reach net-zero emissions
- HPQ Silicon stock (TSXV:HPQ) has added 3.85 per cent over the past year and 237.50 per cent over the past five years
HPQ Silicon (TSXV:HPQ) will undertake a non-brokered private placement for up to $2.5 million.
The company will allocate the proceeds to general corporate purposes, as well as to further development of its silicon, fumed silica and hydrogen initiatives.
HPQ at a glance
HPQ’s green technology suite is divided into five pillars, four of which are courting multi-billion dollar addressable markets focused on materials key to global decarbonization:
- Producing zero-CO2, low-cost and high-purity silicon using its proprietary PUREVAP Quartz Reduction Reactor
- Producing silicon-based anode materials for battery applications
- Producing green low-cost fumed silica using its proprietary Fumed Silica Reactor
- Developing a low-carbon and high-pressure autonomous hydrogen production system
- Becoming the first producer of nano silicon materials from high-purity silicon chunks using its proprietary PUREVAP Nano Silicon Reactor (management estimates a US$139 million addressable market by 2028)
Private placement terms
The company will issue up to 9,090,910 units priced at $0.275.
Each unit is composed of one common share and one common share purchase warrant.
Each warrant entitles the holder to purchase one common HPQ share for $0.30 for 24 months from the placement’s closing.
HPQ may increase the placement to $4.4 million under special conditions and at its sole discretion.
All shares issued are subject to a four-month-and-one-day holding period according to Canadian securities regulation.
Having recently completed all critical milestones for its Gen 3 Quartz Reduction Reactor, including a successful silicon pour, the company is on track to establishing commercial silicon production by 2026.
HPQ Silicon is a Quebec-based developer of green technologies to provide the critical materials required to reach net-zero emissions. Potential investors can learn more by reading our profile on the company as part of the Anatomy of a Flagship Asset series.
HPQ Silicon stock (TSXV:HPQ) opened unchanged trading at $0.27 per share. The stock has added 3.85 per cent over the past year and 237.50 per cent over the past five years.
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