Mr. Bernard Tourillon reports

HPQ SILICON INC.: FINAL CLOSING OF FINANCING

HPQ Silicon Inc. has closed its non-brokered private placement financing announced on Oct. 16, 2023. In addition to the 1,225,500 units as announced on Nov. 16, 2023, the company has closed additional 981,818 units at a price of 27.5 cents per unit for a gross proceed of $269,999.94, bringing the total amount raised to $607,012.44 and the total number of units issued to 2,207,318.

"Successfully raising more than $600,000 at a premium of almost 9 per cent to market, in these less-than-ideal market conditions, is another demonstration of the interest in the HPQ value proposition," said Bernard Tourillon, president and chief executive officer of HPQ Silicon.

Each unit comprises one common share and one common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share of the capital stock of the company at an exercise price of 30 cents for a period of 24 months from the date of closing of the placement. Each share issued pursuant to the placement will have a mandatory four-month-and-one-day holding period from the date of closing of the placement.

In connection with the placement, Stephen Avenues Securities Inc. of Toronto, Ont., received a cash commission equal to $9,075 and the company issued to it 33,000 broker warrants; and Research Capital of Toronto, Ont., received a cash commission equal to $1,500 and the company issued to it 5,454 broker warrants. Each broker warrant will entitle the broker to acquire one common share of the company at a price of 30 cents per share for a period of 24 months following the closing date.

About HPQ Silicon Inc.

HPQ Silicon is a Quebec-based TSX Venture Exchange Tier 1 industrial issuer. HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. and Novacium SAS, new green processes crucial to make the critical materials needed to reach net-zero emissions. HPQ activities are centred around the following four (4) pillars:

1. Becoming a green low-cost (capital expenditures and operating expenditures) manufacturer of fumed silica using the fumed silica reactor, a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis;
2. Becoming a zero-carbon-dioxide low-cost (capex and opex) producer of high-purity silicon (2N+ to 4N) using the company's Purevap quartz reduction reactor (QRR), a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis;
3. Becoming a producer of silicon-based anode materials for battery applications with the assistance of Novacium;
4. HPQ Silicon affiliate Novacium is developing a low-carbon, chemical-base on-demand and high-pressure autonomous hydrogen production system.

We seek Safe Harbor.