VANCOUVER, British Columbia, April 26, 2018 (GLOBE NEWSWIRE) -- SiQ Mountain Industries Inc. (TSXV:SIQ) (“SiQ” or the “Company”) is pleased to report that pursuant to its news release of February 27, 2018 the Company has filed a patent application for a device that provides for the adjustment of the camber (or rocker) of a snowboard with a quick turn of a handle. The adjustment handle can be easily accessed without exiting the bindings. Our ‘adjustable camber device’ (ACD) is believed to be a unique on-mountain advantage to users of snowboards and proprietary to SiQ.
Sliding boards such as snowboards may be used by riders on hard packed snow or deep snow (powder) conditions. The ACD is designed to allow for a quick adjustment to change the camber or rocker of the board, allowing the rider to improve the performance characteristics of their traditional camber board to maximize performance in powder snow conditions.
As previously announced SiQ has an exclusive Technology Purchase Agreement (“Agreement”) that focuses on the development, commercialization and production of the proprietary ACD. This new technology has the potential to dramatically improve the performance of snowboards. The Agreement gives SiQ worldwide, perpetual, exclusive rights to develop the ACD and includes rights to globally patent, market, manufacture, distribute and license the ACD.
Peter Hughes, CEO of the Company comments that: “SiQ is very pleased to be a part of the development and commercialization of the ACD technology which is the second product initiative of our strategic plan. This technology, when successfully developed, will allow SiQ to confirm its business viability through engineering design strategies in recreational markets. There are millions of snowboards in the market today and management believes the ACD has the potential to generate multi-million dollar revenue streams in the future. Management expects its strategic plans will lead to the growth of positive financial performance on behalf of its shareholders in the future.”
About SIQ Mountain Industries
The Company is an early stage development organization focused on the creation of a unique brand of products for outdoor athletic entertainment in international marketplaces. The Company listed on the TSXV on October 5, 2017 after completing is Qualifying Transaction on October 3, 2017 under the rules and guidelines of a Capital Pool Corporation.
For a more complete business and financial profile of the Company, please view the Company's website at www.siqmountain.com and documents posted under the Company’s profile 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 ACD technology that can dramatically improve the performance of snowboards and skis; that SiQ believes that the ACD 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 the ACD technology, when successfully developed, will allow SiQ to confirm its business viability through engineering design strategies in recreational markets; that there are millions of snowboards and skis in the market today and management believes the ACD has the potential to generate multi-million dollar revenue streams in the future; and that Management expects its strategic plans will lead to the growth of positive 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.
For further information, please contact:
Peter Hughes, CEO and President
hughes@siqmountain.com