Great Press Release from yesterday
Sibannac, Inc. Enters Collaboration with World Renowned Product Formulator and Provides Corporate Updates
Press Release | 05/05/2022
Scottsdale, Arizona--(Newsfile Corp. - May 5, 2022) - Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the "Company"), announced the following:
Sibannac's Campus Co. is proud to announce a long-anticipated collaboration with world renowned product designer and formulator, Gary Kehoe.
Mr. Kehoe is a seasoned entrepreneur and nationally renowned expert on product innovation, rapid product prototyping and new product launches. Mr. Kehoe is recognized for his unique ability to identify innovative new product concepts and breakthrough technologies and create practical solutions that have resulted in multiple patent applications and successful commercial products. He is an inventor or co-inventor on over 20 U.S. Patents that include new products, processes and equipment. Mr. Kehoe has successfully formulated over a dozen consumer products sold on store shelves. Mr. Kehoe's background includes over 25 years developing new products within the consumer products industry. Previously, Mr. Kehoe held senior management positions for Wm. Wrigley Jr. Company, Gum Tech International, and Nabisco Foods Company.
As Senior Director of New Product Innovation for the Wm. Wrigley Jr. Company, Mr. Kehoe coordinated the ideation and rapid prototype development of next generation products. At Nabisco, he developed or co-developed the successful launches of numerous consumer products that have maintained strong market presence for over a decade. He has also written research papers and reports related to various topics, such as functional and medical foods, dietary supplements, OTC drugs, homeopathic remedies, and innovative drug/actives delivery systems.
Mr. Kehoe is the lead designer behind Sibannac's next-generation wellness product, yet to be announced. The initial design and formulation are completed and now moving into prototyping as the Company is testing various delivery systems.
The Campus Co - standing for Campus Community - serves as the portal for all consumer and commercial relationships of Sibannac. In addition to long-established brands like Coca-Cola, the Campus will be focused on recruiting, incubating and developing brands in the health, fitness and sports categories, with concentration on nutraceuticals and functional foods. The platform will be managed and operated by Eric Stoll, Sibannac's newly minted CMO, who is migrating his entire Lifetime Branding portfolio to the Campus.
Corporate Updates:
The Class A Preferred stock was mistakenly referred to in the prior disclosure as being convertible. The class has voting rights only, with no conversion rights, and has no dilutive effect on the common stock. Mr. Mersky is the sole holder of the shares in the class. Clarification will be contained in the Company's next filing.
Sibannac's CEO, David Mersky, has agreed to exchange $475,000 in compensation for stock. This transaction results in eliminating debt and ensures Mr. Mersky's long-term commitment to the Company. "At long last we've assembled the best team and are now executing on our vision to bring premium wellness products to the market. I decided to go all-in and take my compensation in stock as I am firmly committed to Sibannac's future, said Mr. Mersky.
