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HPQ-Silicon Resources Inc
Symbol C : HPQ
Shares Issued 222,284,053
Close 2018-11-07 C$ 0.06
Recent Sedar Documents

HPQ-Silicon does not say why price is down, but ...

2018-11-08 15:17 ET - News Release

Mr. Bernard Tourillon reports

HPQ COMMENTS ON UNUSUAL STOCK TRADING ACTIVITY; PROVIDES COMPANY SNAPSHOT/UPDATE

HPQ Silicon Resources Inc. has observed significant and unusual trading in its common stock in recent days. Management wishes to confirm that the company's management is unaware of any material change in the company's operations that would account for this activity. Management knows of no reason that would give rise to such unusual trading and has no significant information to disclose which could lead to such activity.

"We wish to reassure all of our stakeholders and market participants that the fundamentals of HPQ, in terms of activities previously reported on as well as the progress being made thereon, are not only sound but are moving forward as expected," said Bernard Tourillon, president and chief executive officer of HPQ Silicon. "As such, we wish to provide the following company snapshot."

Purevap Gen2:

  • Yield-testing phase completed;
  • Awaiting final analysis results and report;
  • Additional testing before Gen3 is operational -- mid-2019 possible.

Purevap Gen3 pilot plant:

  • Equipment assembly on schedule;
  • Plant buildup on schedule;
  • Permitting received for pilot plant operations;
  • Patent applications progressing as expected.

HPQ pilot plant program still fully financed:

  • IQ $1.8-million, 5 per cent and five-year unsecured convertible debenture closed in August, 2018, not affected by government changes in Quebec;
  • $1.95-million equity investment done at 100-per-cent premium to Nov. 7, 2018, close not affected by recent market variation;
  • $1.5-million equity line of credit for potential project cost overrun not affected by recent market variation;
  • HPQ still owns over 500,000 shares of PyroGenesis.

HPQ -- Beauce Gold Field (BGF) spinout:

  • Spinout on schedule to be completed;
  • BGF placer-to-hard-rock potential well received;
  • Demand for private placement financing strong; institutional participation; closing soon;
  • Date of record will be established after financing closes;
  • Investors selling before record date not entitled to receive BGF shares;
  • As per plan of arrangement, the HPQ ratio of 4.8 per cent represents an 8-per-cent dividend yield based on Nov. 7, 2018, close (100,000 HPQ shares is equal to 4,800 new shares of BGF).

"From a technical perspective, we cannot understand the recent decline in the value of the stock of HPQ," said Peter Pascali, chief executive officer of PyroGenesis Inc., HPQ's lead technical partner and largest individual shareholder. "I just want to confirm that should we see that there is no commercial outcome possible we would not continue pursuing this project. It would not make any sense. We have limited resources and as such we must not only dedicate this scarce commodity to profitable projects but to projects that have a future revenue stream. The longer we are on this project, the more we are derisking it. With our recent investment in HPQ and the Quebec government's support, I cannot, for the life of me, understand the recent decline in the stock. You can rest assured it is not from any undisclosed technical failure."

About HPQ Silicon Resources Inc.

HPQ Silicon is a TSX Venture Exchange-listed resource company planning to become a vertically integrated and diversified high-purity, solar-grade silicon metal producer and a manufacturer of multicrystalline and monocrystalline solar cells of the P and N types required for production of high performance photovoltaic conversion.

We seek Safe Harbor.

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