02:09:58 EDT Sat 19 Jul 2025
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
HPQ Silicon Inc
Symbol HPQ
Shares Issued 421,944,700
Close 2025-07-18 C$ 0.155
Market Cap C$ 65,401,429
Recent Sedar Documents

HPQ Silicon disputes claims worth 209,000 euros

2025-07-18 17:59 ET - News Release

Mr. Bernard Tourillon reports

HPQ SILICON CANCELS 5,335,000 STOCK OPTIONS

HPQ Silicon Inc.'s board of directors has approved the cancellation of 5,335,000 stock options. These options were set to expire on Dec. 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 euros in cash, along with an additional claim for 180,000 euros 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 totalling $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 chief executive officer 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."

We seek Safe Harbor.

© 2025 Canjex Publishing Ltd. All rights reserved.