HPQ Silicon Cancels 5,335,000 Stock Options

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.

NOTICE OF CLAIM

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.

These claims arise from a draft agreement dated August 2022 that was never signed or ratified by the Company.

HPQ management believes it has strong grounds to dispute the claims.

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.

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.

“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.”

About HPQ Silicon

HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based TSX Venture Exchange Industrial Issuer.

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.

HPQ activities are centred around the following pillars:

	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 *PUREVAP*^TM “Quartz Reduction Reactors” (QRR), a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis.

For more information, please visit HPQ Silicon web site.

Disclaimers:

This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the security’s regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.

Source: HPQ Silicon Inc.
For further information contact:
Bernard J. Tourillon, Chairman, President, and CEO Tel +1 (514) 846-3271
Email: Info@hpqsilicon.com

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