Scottsdale, Arizona, February 25, 2021 – – Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the “Company”), announced the following:
Sibannac, Inc. and NOHO, Inc. (OTC Pink: DRNK) have finalized a plan to effect a cross purchase transaction by each company. After significant market analysis, taking into account the positioning of both companies, their individual strengths and capabilities, as well as a diligence analysis as to the fairness of the proposed transactions, the companies are preparing to enter the following transactions:
Sibannac will purchase the intellectual property of NOHO, consisting of its trademark and proprietary formulations, but NOHO will retain the use of its name and branding, through a separate license agreement, as it moves into production of new consumer products. Sibannac will issue up to $2.8 Million Dollars of Sibannac warrants at a strike price to be determined. Sibananc will register the warrants and issue the same to NOHO in the transaction. NOHO will issue the warrants to the shareholders as a dividend.
NOHO will acquire Vestra, LLC, an Arizona company, wholly owned and managed by Sibannac, established as a special purpose company for the ownership of a Sibannac created Delta 8 THC brand – RaD8 (See, RaD8 (rad8life.com). LifeAs consideration, NOHO will deliver Ten-Million shares of its Class B Convertible Preferred stock from its treasury, allowing the company to use the shares to purchase the brand. Those shares will be booked by Sibannac as an investment and may be used to fund future acquisitions.
The creator of the RāD8 brand is the founder of Lifetime Branding, Eric Stoll. Mr. Stoll and his team are career brand builders with extensive experience in the nutrition space, including herbal supplements and candy. Over more than 30 years, Eric has created marketing and ad campaigns for some of the country’s most notable brands and has been engaged by Sibannac to create RaD8, as well as the company’s core brand focused in the alternative wellness space. Lifetime and its team have been engaged in building the Sibannac platform since last year and will be continuing its development toward a projected launch in the summer of 2021.
Lifetime has an impressive track record not only advancing already established brands for some of the Fortune 500, but also creating new brands from the ground up. Mr. Stoll and his team of marketing professionals and formulators are set to launch Sibannac’s wellness brand into key market segments, including wholesale and retail, with initial focus on direct-to-consumer, online sales.
Sibannac’s CEO, David Mersky, said, “After a lengthy period of evaluation, I am very pleased to announce the asset purchase transactions between NOHO and Sibannac. Having Eric Stoll and Lifetime Branding aboard to oversee the buildout and commercialization processes for both companies is simply a marvelous opportunity. Sibannac is ready to manufacture the products for itself and NOHO in its FDA facility in Scottsdale. Sibannac’s product lines, branding and positioning will cater to a different demographic than NOHO, and these transactions allow for a natural fit between the brands and companies.”
Eric Stoll of Lifetime Branding, said, “We have been working very hard – in stealth mode- over the last year to build the architecture behind Sibannac’s new branding platform and are eager to move forward toward the launch. The alternative wellness space is poised for Sibannac to enter the landscape and capitalize where we will have a vertically integrated brand and control the manufacturing. I haven’t come across many opportunities like this over my career.”
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.
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