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MONTREAL, July 18, 2025 (GLOBE NEWSWIRE) — HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ, OTCQB: HPQFF, FRA: O08), a technology company driving innovation in advanced materials and critical process development, announces that its Board of Directors has approved the cancellation of 5,335,000 stock options. These options were set to expire on December 20, 2026, with an exercise price of $1.00. None of the options in this series had been exercised.
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NOTICE OF CLAIM
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The Company also wishes to inform shareholders that it has received today a claim for payment in the amount of €29,000 in cash, along with an additional claim for €180,000 to be paid in Company shares.
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These claims arise from a draft agreement dated August 2022 that was never signed or ratified by the Company.
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HPQ management believes it has strong grounds to dispute the claims.
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Specifically, BeNear Deutschland GmbH failed to deliver the services it claimed it would provide, despite having received monthly payments from HPQ totaling CAD $338,882 in exchange for unfulfilled commitments and lofty promises.
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Moreover, these payments were intended as advances against potential commissions, which were conditional on the completion of a significant financing — a transaction that never materialized. The Company will keep shareholders informed of any developments in this matter through future press releases.
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“While unfortunate, these kinds of situations are not uncommon in business, particularly when dealing with international partnerships and complex financing projects,” said Bernard Tourillon, President and CEO of HPQ. “We remain confident in the strength of our position. However, disclosure rules require us to inform shareholders of any claim, even one we firmly believe to be without merit. As always, we intend to defend the Company’s interests vigorously.”
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About HPQ Silicon
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HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based TSX Venture Exchange Industrial Issuer.
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HPQ is a technology company focused on innovation in advanced materials and critical process development. In partnership with world-class technology leaders PyroGenesis Inc. and NOVACIUM SAS—of which HPQ is a shareholder—the company is developing the materials and process technologies essential to achieving net-zero goals.
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HPQ activities are centred around the following pillars:
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| 1) | Becoming a green, low-cost (Capex and Opex) manufacturer of Fumed Silica using the FUMED SILICA REACTOR, a proprietary technology owned by HPQ Silica Polvere Inc., being developed for HSPI by PyroGenesis. | |
| 2) | Working with R&D partner NOVACIUM SAS, to become a producer of silicon-based anode materials for battery applications. | |
| 3) | Developing Innovative processes to generate and use Hydrogen: | |
| a. METAGENE™, a low-carbon, chemical-based, on-demand, high-pressure autonomous hydrogen production system, is being developed by NOVACIUM SAS of which HPQ holds the exclusive North American (Canada, USA, and Mexico) license. | ||
| b. WASTE TO ENERGY (W2E), a new process to transform black aluminum dross into a valuable resource, is being developed by NOVACIUM SAS, of which HPQ holds the exclusive North American (Canada, USA, and Mexico) license. HPQ is also a shareholder in NOVACIUM SAS. | ||
| 4) | Becoming a zero-CO2 low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our PUREVAPTM “Quartz Reduction Reactors” (QRR), a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis. | |
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