Sibannac Inc (SNNC)

[Ricosauve]

https://www.otcmarkets.com/filing/html?id=14279830&guid=3yIFUa3vqWTWith

SIBANNAC, INC.

Form 8-K

Current Report





ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT


On July 15, 2020, the Company entered into a Memorandum of Understanding acknowledging ongoing negotiations of a licensing agreement with C LAB PHARMA, SA/MitoSynergy (“Licensor”), located in the British Virgin Islands. Closing drafts of the Licensing agreement have been distributed to the parties.



The Licensor has been awarded multiple U.S. patents for molecular compounds for bioavailable coppers, namely Cuprous Nicotinic Acid. These patented compounds involve the only known bioavailable Copper 1 in the Copper 1 oxidative state. Licensor has raw materials on-hand and production capabilities for large scale manufacturing. Finished products will be made in Sibannac’s facility, which has obtained FDA registration for food grade manufacturing.



The U.S. Patents to be licensed under the agreement are: WO2016/037181 and 20150224112. More information about Copper 1 can be found in the following videos:

The Licensor has performed a human study on the Copper Niacin compound and submitted results to the Food and Drug Administration (“FDA”). In response, the FDA issued a No Objection Letter: #910, allowing the Copper compound to be marketed as an Initial New Dietary Ingredient (“IND”).



The proposed Licensing agreement will provide for the development, marketing and sale of consumer products based on Copper 1 and CBD formulations, to be branded as YourCopper, providing enhanced maintenance for the common immune system. The products will be formulated to address some of the most common consumer symptoms – Energy, Pain and Focus - in the burgeoning nutraceutical market, estimated to be in excess of U.S. $400 Billion over five years.



Forward-Looking Statements



This Current Report on Form 8-K includes statements that may constitute “forward-looking” statements, usually containing the words “believe”, “estimate”, “project”, “anticipate”, “expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.