HPQ-Silicon Resources Inc. announced a non-brokered private placement of 6,800,000 units at a price of CAD 0.53 per unit for the gross proceeds of CAD 3,604,000 on May 2, 2022. Each unit will be comprised of one common share and one common share purchase warrant. Each Warrant can be exercised into one common at an exercise price of CAD 0.60 for a period of 24 months from the date of closing of the transaction.

The securities issued in the transaction are subject to four month and one day hold period from the date of closing of the transaction. The transaction is subject to standard regulatory approvals. The transaction included participation from one placee.