VANCOUVER, British Columbia, Oct. 24, 2017 (GLOBE NEWSWIRE) -- SIQ Mountain Industries Inc. (TSXV:SIQ) (“SIQ” or the “Company”) reports that it has initiated its business development programs. The Company has been established to develop an international outdoor lifestyle brand to be simply known as SIQ™. The objective is to create proprietary athletic entertainment equipment and products that promote a healthy outdoor lifestyle for people of all ages.
The Company’s initial product offering is a proprietary (patents pending) bike-like device (SBX) that transitions the mountain bike/motocross experience into a winter activity when it is attached to a snowboard or skis. The SBX features a lightweight/foldable design making it easy to place in confined spaces such as a small car, checked luggage, or, helicopter basket. Once unfolded the SBX attaches to a standard snowboard or skis and offers a suspension and riding stance similar to mountain bike or motocross. It requires no special footwear or other gear, although helmets are recommended for safety reasons. The rider is able to maintain a biker position as the individual navigates the snow covered terrain of their choice. It is gravity powered and designed to be a new “cool” fun activity for snow enthusiasts from beginners to advanced riders.
The concept SBX prototype has been completed and tested. A production engineering firm is being engaged to create a final consumer ready production prototype. This involves the design and creation of production drawings, materials analysis and consumer safety testing. Once vetted and certified by the engineers the Company will move to engage supply chains and assembly operations.
The Company is in the process of leasing a 6,000 square foot facility in Kelowna, BC, Canada, the hub of the western Canadian ski industry. The Company expects to be utilizing this space on December 1, 2017. It will provide receiving, assembly, shipping, sales, administration and graphic art operations. Website and social media capability is currently being designed and the Company expects to be operational by January 2018.
Mr. Peter Hughes, CEO of the Company comments, “Management is excited to introduce the SIQ™ brand to a multi-million dollar international sports entertainment market. In addition to our SBX technology our ambition is to develop longer term strategies to introduce new product lines in both winter and summer outdoor activities. Our goal is to promote products that are exciting for customers, promote fitness and facilitate a healthy active lifestyle.”
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 (the “Exchange”). On October 5, 2017 the Exchange approved the Company’s qualifying transaction described in the Company’s filing statement (see the Company’s new release dated October 3, 2017). 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 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 has been established to develop an international outdoor lifestyle brand to be simply known as SIQ™; that the concept SBX prototype has been completed and tested; that a production prototype can be successfully completed and tested; and the SIQ brand can generate revenue from a multi-million dollar international sports entertainment market. 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 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