SiQ Mountain Industries Inc. Announces Wholly Owned Subsidiary SiQ Ride Rentals Inc.
VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) — SiQ Mountain Industries Inc. (TSXV: SIQ) (the “Company” or “SiQ”) is pleased to report that as a key strategic component of its brand development it has established a wholly owned subsidiary company SiQ Ride Rentals Inc. (“SRR”). SRR has been incorporated in the province of British Columbia, Canada.
Our suite of SiQRide products is designed to offer new exciting recreational experiences. Rental products are expected to include, initially, our proprietary SiQRocker and Snow Bike, plus the eFoil hydrofoil and the Onewheel electric skateboard. This business structure is expected to generate revenue streams from equipment rentals and instruction services, which also promotes the growth of product sales from an enthusiastic and loyal customer base.
The rental model is founded on making SiQRide products accessible to those who would like to experience the product before purchasing or are unsure about making a purchase. Constraints for potential owners of SiQRide products may include budget issues, available recreation time, transportation challenges, and available storage space. Some potential customers cannot justify a sizable investment for certain SiQRide products given the limited time they may use the product and storage challenges when not in use. The obvious solution is to offer them the SiQRide experience through rental locations.
Peter Hughes, CEO of the Company, comments “Our SiQRide brand development is dedicated to creating and distributing amazing recreational experiences to our prospective customers. By offering customers rental and instructional programs we expect to generate additional revenue streams, both from rental income and subsequent sale of our products.”
About SiQ Mountain Industries
The Company is an early-stage development organization focused on the creation and distribution of a unique brand of products for outdoor athletic entertainment in domestic and international markets.
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 build the desirability of our SiQRide products through rental operations and on-site instruction; that this business structure can generate revenue streams from equipment rentals and instruction services which in turn can promote the growth of product sales from an enthusiastic and loyal customer base; and that we can create and distribute a unique brand of products for outdoor athletic entertainment in domestic and international markets. 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 Industries Inc. 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, the products are not well accepted by consumers 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 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 or rent 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 distributing our products for rental as expected, and even if we have some rental distributors, we may not be able to break into the international market. 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.
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For further information, please contact:
Peter Hughes, CEO and President