Scottsdale, Arizona--(Newsfile Corp. - September 27, 2023) - Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the "Company"), announced the following:
Sibannac, Inc. and AllStar Health Brands Inc. (OTC Pink: ALST) ("AllStar") have signed a heads-of-terms agreement to pursue the acquisition of retail cannabis franchise units throughout Ontario, Canada.
AllStar and Tyme Cannabis Co. have already entered into a Joint Venture Strategic Partnership to expand its retail presence in the Cannabis sector by adding 70+ new locations throughout the region. This expansion is subject to regulatory approval and will be carried out under Tyme's AGCO (Alcohol and Gaming Commission of Ontario) license.
Tyme Cannabis Co. has an existing operation based in Hamilton, Ontario, which is licensed by AGCO, and it serves as a foundation for the planned expansion. The agreement between Sibannac and the AllStar-Tyme group is for the initial acquisition of up to five locations in the first year.
In addition to Sibannac's expertise in the cannabis space, through its newly acquired Immersive Brands subsidiary, the Company intends to expand its retail offerings in kratom products to Canada, which does not require any licensing. Sibannac's Scottsdale, Arizona retail location is currently in the build-out phase, slated to open shortly, by December 2023.
It is contemplated that the AllStar-Tyme group will be responsible for operations and will oversee store build-outs for new franchisees as they come to the market with a "turn-key" retail location. This will also provide a built-in retail marketplace for Sibannac's products in Canada at no additional cost.
Further disclosures will be made as the deal advances toward a definitive agreement after the diligence period.
Sibannac, Inc. (OTC Pink: SNNC) is a Nevada corporation founded in 1999 and located in Scottsdale, Arizona. Sibannac currently specializes in creating and selling premium next generation wellness products in the consumer packaging goods space. In addition to mainstream supplements and its hangover shot, NOHO, the Company is producing Kratom and Hemp-derived Delta-8/9 products, and Amanita mushroom edibles for wholesale and retail sales and distribution. Sibannac provides contract manufacturing and white labeling services for independent firms and creates and manages its own brands from the concept phase through to distribution. Sibannac has opened its platform to outside clients to offer its marketing and brand-building assets, through its wholly owned subsidiaries, The Campus Co. and Immersive Brand Concepts.
Media Contact: IR@theCampusCo.com
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 Sibannac, 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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