SIQ.H:CC - SiQ Mountain Industries Inc. announces Private Placement

(TheNewswire)

Vancouver, British Columbia - TheNewswire - August 15, 2023- SiQ Mountain Industries Inc. ( NEX:SIQ.H ) (the “ Company ” or “ SiQ ”) is pleased to announce that it intends to sell on anon-brokered private placement basis, an aggregate of up to 4,000,000common shares of the Company (the "Common Shares") at aprice of C$0.05 per Common Share for gross proceeds of upto C$200,000 (the "Private Placement").

Net proceeds of the Private Placement will be predominantly used toinitiate a new strategic business plan  as well as for generalcorporate and working capital purposes.

Completion of the Private Placement will be subject to regulatoryapproval, including the approval of the TSX Venture Exchange andcertain other customary conditions including, but not limited to,execution of subscription agreements between the Company and thesubscribers. The Common Shares will be offered by way of prospectusexemptions in Canada and the Common Shares sold in the PrivatePlacement will be subject to a hold period of four months plus oneday.

The issuance of Common Shares to insiders constitutes a "relatedparty transaction", as defined under Multilateral Instrument61-101 ("MI 61-101"). The transactions will be exempt fromthe formal valuation and minority shareholder approval requirements ofMI 61-101 as neither the fair market value of any Common Shares issuedto, nor the consideration paid, by such persons would exceed 25% ofthe Company's market capitalization.

This news release does not constitute an offer to sell or asolicitation of an offer to buy the securities described herein in theU.S., or in any jurisdiction in which such an offer or sale would beunlawful. The securities described herein have not been and will notbe registered under the U.S. Securities Act of 1933, as amended, orany U.S. state securities laws and may not be offered or sold in theU.S. or to the account or benefit of a U.S. person or a person in theU.S. absent registration or an applicable exemption from theregistration requirements.

On behalf of the Board of Directors,

James R. Bond, CEO and President

Cautionary Note RegardingForward-Looking Statements

Forward-looking statements contained in this news release includestatements regarding the closing of the Private Placement (includingreceipt of all required regulatory approvals), the number of CommonShares sold pursuant to the Private Placement, the insiderparticipation in the Private Placement and the use of proceeds fromthe Private Placement, Although the Company believes that theexpectations reflected in such forward-looking statements and/orinformation are reasonable, undue reliance should not be placed onforward-looking statements since the Company can give no assurancethat such expectations will prove to be correct. These statementsinvolve known and unknown risks, uncertainties and other factors thatmay cause actual results or events to differ materially from thoseanticipated in such forward-looking statements, including but notlimited to risks related to: receipt of required regulatory approvalsfor, the closing of the Private Placement, and insider participationin the Private Placement.

NEITHER TSX VENTURE EXCHANGE NOR ITSREGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIESOF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACYOR ACCURACY OF THIS RELEASE.

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