SIBANNAC, INC. PROVIDES FINANCIAL AND OPERATIONS UPDATE

Rhea-AI Summary

Sibannac, Inc. (OTC Pink: SNNC) has achieved a 100% increase in share price over the past year and is focusing on expanding its white label manufacturing and launching a new wellness brand in 2022. The company plans to retire $400,000 in fees owed to branding partner Lifetime Branding through a debt forgiveness agreement. Additionally, Sibannac will manufacture Delta-8 THC products following a DEA ruling classifying it under the 2018 Farm Bill. A new retail location is set to open in downtown Scottsdale, and an awareness campaign is planned for the upcoming year.

Positive

• 100% increase in share price over the last 12 months.
• Plans to retire $400,000 in fees through a debt forgiveness agreement.
• Manufacturing Delta-8 THC products, expanding market opportunities.
• A new retail location opening in 2022 in downtown Scottsdale.
• Notice of Allowance granted by the U.S. Patent and Trademark Office for new brand.

Negative

• None.

Scottsdale, Arizona, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the “Company”), announced the following:

Sibannac has made great strides in 2021.  With the addition of Eric Stoll and Lifetime Branding, the Company has seen a 100% increase in our share price over the last 12 months.  In the new year, management will be focused on growing our white label manufacturing operations, as well as bringing our new brand to life and engaging with the public.

Transactions

The Company is currently discussing with its branding partner, Lifetime Branding, a debt forgiveness agreement to retire Lifetime’s $400,000 in fees for equity.  Lifetime entered a similar agreement with NOHO, Inc. (OTC Pink: DRNK), as its founder Eric Stoll heads branding for both companies  

The Company has returned 24 million shares to the treasury.  These shares were previously held in reserve to secure a potential debt financing transaction that management declined to pursue as not in the best interests of the Company.

Operations

Following a recent reversal from its initial position, the DEA has conceded that the popular cannabinoid Delta-8 THC falls under the purview of the 2018 Farm Bill and should be treated as CBD.  There are many opportunities for consumer and white-label manufacturing sales that the Company will be pursuing into next year.  Currently, the Company can manufacture Delta-8 gummies and vape cartridges in its Scottsdale-based manufacturing facility.

Delta-8 THC is a hemp-based cannabinoid derived from compliant hemp under the 2018 Farm Bill.  Delta 8, while a THC derivative, does not fall under the Controlled Substances Act as Marijuana, as long as it is derived from hemp containing less than .3% Delta-9 THC.

The Company will be announcing its new alternative wellness brand in Q1 2022.  Significant development has been undertaken over the course of 2021 in developing the brand architecture and positioning, and the Company has been granted a Notice of Allowance from the U.S. Patent and Trademark Office.

The Company is committed to a sustainable brand focused on developing the finest products and providing unparalleled customer service to our consumers. 

The Company will be opening its retail location in 2022 in the heart of downtown Scottsdale. The store will feature the brand’s core offerings and will serve as an interactive consumer product demonstration and marketing location.

To oversee manufacturing and logistics, both on and off premises, the Company has been fortunate to retain Eric Manfull to execute management’s vision and commitment to quality.  Eric has overseen operations, warehousing, QA/QC and Engineering/Maintenance for several large manufacturing firms with 15 years of experience in the health and wellness industry.

He has overseen the production of more than 6,000 dietary supplement products and has formulated more than 100 products.  Mr. Manfull served for over 22 years in the U.S. Navy, specializing in Maritime Engineering, Diving and Salvage and Surface Warfare & Naval Special Operations.

The Company will also be executing an awareness campaign beginning in the new year that will feature digital ads as well as physical billboard placement, in addition to interviews with the management team.  For new investors, please see the NOHO, Inc. (OTC Pink: DRNK) shareholder call featuring a discussion with Sibannac’s CEO David Mersky, Lifetime’s Eric Stoll and Kevin Williams.  Mr. Williams has been involved in several branding campaigns on behalf of leading brands in the herbal and natural supplement space:  Event recording

Cautionary Note Regarding Forward-Looking Statements.
This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Noho, Inc. (the “Company”), its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and actual results may differ materially from those projected in the forward looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.

Media Contact: IR@theCampusCo.com

FAQ

What recent developments has Sibannac (SNNC) announced?

Sibannac announced a 100% increase in share price, expansion of manufacturing, and plans for a new wellness brand.

How has the share price of SNNC changed in the last year?

SNNC has experienced a 100% increase in share price over the past 12 months.

What is the significance of the DEA's ruling for SNNC?

The DEA's ruling allows SNNC to manufacture Delta-8 THC products, creating new market opportunities.

When will Sibannac open its new retail location?

Sibannac plans to open a retail location in downtown Scottsdale in 2022.

What is the debt forgiveness agreement involving SNNC?

SNNC is negotiating a debt forgiveness agreement with Lifetime Branding to retire $400,000 in fees.