VANCOUVER, British Columbia, Feb. 27, 2018 (GLOBE NEWSWIRE) -- SiQ Mountain Industries Inc. (TSX-V:SIQ) (“SiQ” or the “Company”)
is pleased to report that it has entered an exclusive Technology Purchase Agreement (the “Agreement”) with Gautier Arcouette and a
co-inventor (the “Inventors”). This represents the second technology purchased from Mr. Arcouette who continues to explore new
ideas for the recreational sports market with the support of the SiQ team.
The Agreement focuses on the development, commercialization and production of a proprietary technology (“PT”)
that has the potential to dramatically improve the performance of snowboards and skis. The Agreement gives SiQ the worldwide,
perpetual, exclusive rights to develop the PT and includes the right to globally patent, market, manufacture, distribute and
license the PT. SiQ believes the PT has the potential to generate multi-million dollar revenue streams if it is successfully
developed and introduced to the marketplace.
Due to patent and competitive sensitivities, the Company will not release details of the technology areas
covered by the Agreement until patent applications are filed. The Company will own and control all resulting patents which
would be used in commercial products.
In consideration for the Agreement SiQ will pay the Inventors CAD$20,000 and an aggregate of 50,000 incentive
stock options. The stock options are exercisable, subject to vesting provisions, over a period of five years at a price of $0.16
per share.
In addition, SiQ will pay a 2.5% royalty on a pre-approved sales formula. All required capital,
development and production resources for the near term are already in place and the Company will not have to raise any additional
capital at this time.
Peter Hughes, CEO of the Company comments that: “SiQ is very pleased to be a part of the development and
commercialization of this snowboard and ski technology. This technology, if successfully developed, will allow SiQ to expand
its business model by initiating engineering design strategies in new recreational markets. Management expects its expanded
technology model to lead to a more stable and reliable growth of financial performance on behalf of its shareholders in the
future.”
About SiQ Mountain Industries
SiQ Mountain Industries is an early start-up business organization that began as a Capital Pool Corporation on
the TSX Venture Exchange. In October 2017 SiQ started operations to produce snow-bikes. The Company is focused on the
creation of a unique brand of products for outdoor athletic entertainment in international marketplaces.
The Company’s website is currently under construction, for a more complete business and financial profile of the
Company, please view the Company's public documents posted on www.sedar.com.
On behalf of the Board of Directors,
Peter Hughes, CEO and President
Legal Notice Regarding Forward-Looking Statements and Information: This news release contains
“forward-looking statements and information” within the meaning of applicable securities laws. Forward-looking statements are
indicated expectations or intentions. Forward-looking statements in this news release include without limitation: that the
Company can develop, commercialize and produce proprietary technology (“PT”) that dramatically improves the performance of
snowboards and skis; that SiQ believes that the PT has the potential to generate multi-million dollar revenue streams when it is
introduced to the marketplace; that SiQ can expand its business model by initiating engineering design strategies in new
recreational markets; and that Management expects its expanded technology model to lead to a more stable and reliable growth of
financial performance on behalf of its shareholders in the future. Although the Company believes its anticipated future
results, performance or achievements expressed or implied by the forward-looking statements are based upon reasonable assumptions
and expectations, they can give no assurance that such expectations will prove to be correct. The reader should not place undue
reliance on forward-looking statements as such statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of SiQ Mountain to differ materially from anticipated future results,
performance or achievement expressed or implied by such forward-looking statements. Such risks and uncertainties include, without
limitation, the risk that the Company’s technology and products may not work as well as expected; we may not be able to break into
new markets, because such markets are served by strong and embedded competitors or because of long term supply contracts; and we
may not be able to grow and sustain anticipated revenue streams. We may have underestimated the cost of production costs and the
time it takes to bring products to market; we may not be able to finance our intended product development. Our products may not
sell as well as expected, and competitors may offer better or cheaper alternatives to our products. Our technologies may not be
patentable, and if patents are granted, we may not protect our investment in intellectual property if our patents are challenged.
Our intended technologies may infringe on the intellectual property of other parties. We may not have any parties interested in
licensing our technology as expected. Except as required by law, the Company does not intend to update the forward-looking
information and forward-looking statements contained in this news release.
NEITHER 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.
Peter Hughes
hughes@siqmountain.com
