HPQ Silicon closes $306,120 private placement

Executive Summary

• HPQ Silicon Inc. has closed a non-brokered private placement of 1,883,815 common shares.
• The shares were issued at a price of 16.25 cents per share, generating gross proceeds of $306,120.
• Net proceeds are designated for general working capital, corporate purposes, and advancing battery-related initiatives and R&D projects.

Key Details

• Transaction Structure: Non-brokered private placement.
• Shares Issued: 1,883,815 common shares.
• Price Per Share: 16.25 cents.
• Gross Proceeds: $306,120.
• Investor: A European-based investment firm specializing in tailored, committed, and flexible capital solutions for publicly listed companies.
• Use of Proceeds: General working capital, corporate purposes, battery-related initiatives, and continuing research and development projects.
• Hold Period: Each common share is subject to a mandatory four-month-and-one-day hold period from the date of closing, in accordance with applicable Canadian securities laws.
• Regulatory Status: The placement remains subject to standard regulatory approvals, including approval from the TSX Venture Exchange.
• Cost Efficiency: The financing was completed without paying any finders' fees.

Notable Quotes

• "Closing a shares-only financing without paying any finders' fees demonstrates the strength of HPQ's value proposition," said Bernard Tourillon, president and chief executive officer of HPQ. "Although modest in size, this financing provides HPQ with additional flexibility and supports our ability to pursue the larger opportunities we are actively advancing."