SiQ Mountain Industries Inc. announced that it has terminated the Company's agreements with Gautier Arcouette regarding the development and production of a snowbike and a snowshoe climbing device. Under technology purchase agreements, SiQ acquired rights to develop and produce a snowbike, where skiers and snowboarders could stand on a bike-like device and glide over snow and ice. SiQ expended time, effort and financial investment to develop the snowbike and the snowshoe to safety standards and consumer specifications but did not complete the development of either because of technical issues ballooning expected completion costs, making profit projections unattainable. Under the termination agreement with Mr. Arcouette, the inventor of the snowbike and snow climbing devices, the Company has turned the technologies back to Mr. Arcouette and settled all outstanding matters between the Company and Mr. Arcouette regarding those technologies and any payments owing. SiQ retains the rights to the proprietary adjustable camber device for snowboards known as the SiQRockerTM. The SiQRockerTM provides a convenient way to adjust the camber profile of a snowboard for optimal performance on either powder or hard-packed snow. Using the SiQRockerTM, a snowboarder can quickly and easily adjust their snowboard profile with the turn of a dial and without exiting their bindings. The SiQRockerTM is believed to provide a unique on-mountain advantage to users of snowboards and a PCT patent application has been filed.