VANCOUVER, B.C., Sept. 26, 2017 (GLOBE NEWSWIRE) -- Snobro Enterprises Inc. (“Snobro” or the “Company”) (TSX-V:SIQ.P) is pleased to provide this update regarding the Company’s proposed qualifying transaction with businessman and inventor Gautier Arcouette (“Arcouette”), pursuant to which the Company intends to utilize technologies which have been conceived, built and tested by Arcouette to produce and market snow-bike products capable of generating multi-million dollar revenue streams from the global snowboard and ski markets (the “Qualifying Transaction”). The Qualifying Transaction was previously announced in a News Release dated June 7, 2017.
Snobro has now received conditional acceptance for the Qualifying Transaction from the TSX Venture Exchange (the “Exchange”) and a filing statement dated September 19, 2017 regarding the Qualifying Transaction has been filed under the Company’s profile on www.sedar.com.
Closing of the Qualifying Transaction is subject to certain conditions, including the final acceptance of the Exchange. The closing is expected to take place on or about October 3, 2017 or such other date as may be determined by the Company. Trading in the shares of the Resulting Issuer (as defined in Exchange Policy 1.1) is expected to commence two business days after the closing under the name SIQ Mountain Industries Inc. The trading symbol of the Company on resumption of trading will be “SIQ”.
ON BEHALF OF THE BOARD
|President, Director and Promoter|
Disclaimer for Forward-Looking Information
Statements in this news release regarding Snobro which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the statement that the Closing is expected to take place on or about October 3, 2017, and that the snow-bike is capable of generating multi-million dollar revenues. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, such as the risk that the Closing may not occur for any reason. Actual results could differ materially from those currently anticipated in such statements due to factors including, but not limited to, the Exchange failing to grant final acceptance for the Qualifying Transaction for unforeseen reasons, or that the snow-bike is not accepted by consumers and does not sell as well as expected. Except as required by law, Snobro does not intend to update any changes to such statements.
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.
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