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SIBANNAC, INC. AND LIFETIME BRANDING ENTER DEBT FORGIVENESS AGREEMENT
SIBANNAC, INC. AND LIFETIME BRANDING ENTER DEBT FORGIVENESS AGREEMENT
Scottsdale, Arizona, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the "Company"), announced the following:
The Company is proud to announce its agreement with Lifetime Branding Collaborative, LLC to exchange Lifetime's debt for equity, further strengthening the agency's commitment to the wellness brand spearheaded by Eric Stoll.
Pursuant to the agreement, Lifetime is forgiving $400,000 in debt in exchange for two million (2,000,000) shares of the Company's Preferred B stock. The transaction results in no immediate dilution to the common stock.
In addition, David Mersky, Sibannac's CEO, will be forgiving a substantial amount of accrued compensation in exchange for equity. Upon Board approval a further announcement will be made providing details of the agreement.
"This deal with Lifetime signals Eric's [Stoll] unwavering commitment to the next generation wellness brand we've been building for the last year. I will also be forgiving compensation in exchange for preferred stock. We've retired additional debt in the last quarter and are ready to go into the new year unveiling our next gen wellness brand which represents Eric's best work to date," said Mr. Mersky.
Delta-8 Manufacturing
Following the DEA's concession regarding the legality of Delta-8 THC, the Company has received numerous inquiries about manufacturing Delta-8 products from brands and distributors. Currently, the Company can manufacture Delta-8 gummies, vape cartridges, candies and smokeable flower 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.
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 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.
Contact:
IR@theCampusCo.com
Scottsdale, Arizona, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the "Company"), announced the following:
亚利桑那州斯科茨代尔,2021年12月9日(Global Newswire)--内华达州的一家公司Sibannac,Inc.(场外交易市场代码:SNNC)宣布了以下消息:
The Company is proud to announce its agreement with Lifetime Branding Collaborative, LLC to exchange Lifetime's debt for equity, further strengthening the agency's commitment to the wellness brand spearheaded by Eric Stoll.
该公司自豪地宣布,它与Lifetime Branding Collaborative,LLC达成协议,将Lifetime的债务转换为股权,进一步加强了该机构对埃里克·斯托尔(Eric Stoll)带头的健康品牌的承诺。
Pursuant to the agreement, Lifetime is forgiving $400,000 in debt in exchange for two million (2,000,000) shares of the Company's Preferred B stock. The transaction results in no immediate dilution to the common stock.
根据这项协议,Lifetime将免除40万美元的债务,以换取该公司200万股(200万股)的优先B股。这项交易不会立即稀释普通股。
In addition, David Mersky, Sibannac's CEO, will be forgiving a substantial amount of accrued compensation in exchange for equity. Upon Board approval a further announcement will be made providing details of the agreement.
此外,Sibannac首席执行官大卫·默斯基(David Mersky)将免除一大笔应计薪酬,以换取股权。一旦董事会批准,将发布进一步的公告,提供协议的细节。
"This deal with Lifetime signals Eric's [Stoll] unwavering commitment to the next generation wellness brand we've been building for the last year. I will also be forgiving compensation in exchange for preferred stock. We've retired additional debt in the last quarter and are ready to go into the new year unveiling our next gen wellness brand which represents Eric's best work to date," said Mr. Mersky.
“与Lifetime的这笔交易标志着埃里克[斯托尔]坚定不移地致力于打造我们过去一年一直在打造的下一代健康品牌。我还将宽恕补偿,以换取优先股。我们已经在上个季度偿还了额外的债务,并准备进入新的一年,推出我们的下一代健康品牌,这代表着Eric迄今为止最好的作品。“Mersky先生说。
Delta-8 Manufacturing
Delta-8制造
Following the DEA's concession regarding the legality of Delta-8 THC, the Company has received numerous inquiries about manufacturing Delta-8 products from brands and distributors. Currently, the Company can manufacture Delta-8 gummies, vape cartridges, candies and smokeable flower in its Scottsdale-based manufacturing facility.
在DEA就Delta-8 THC的合法性作出让步后,该公司收到了许多品牌和经销商关于制造Delta-8产品的询问。目前,该公司可以在其位于斯科茨代尔的制造工厂生产Delta-8口香糖、蒸汽盒、糖果和可熏花。
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.
Delta-8 THC是一种以大麻为基础的大麻类化合物,根据2018年农场法案,从符合要求的大麻中提取。Delta 8虽然是THC的衍生物,但只要它是从含有低于0.3%Delta-9 THC的大麻中提取的,它就不属于受管制物质法所指的大麻。
Cautionary Note Regarding Forward-Looking Statements.
有关前瞻性陈述的注意事项。
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 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.
本新闻稿包含符合1933年证券法(经修订)第27A条和1934年证券交易法(经修订)第21E条含义的前瞻性陈述。这些陈述出现在本新闻稿的多个地方,包括与Sibannac公司(下称“公司”)、其董事或高级管理人员在以下方面的意图、信念或当前预期有关的所有非历史事实陈述:(I)融资计划;(Ii)影响其财务状况或经营结果的趋势;(Iii)增长战略和经营战略。“可能”、“将会”、“将会”、“预期”、“估计”、“可以”、“相信”、“可能”以及类似的表述及其变体旨在识别前瞻性陈述。请投资者注意,任何此类前瞻性陈述都不是对未来业绩的保证,涉及风险和不确定因素,其中许多风险和不确定因素超出了公司的控制能力,由于各种因素,实际结果可能与前瞻性陈述中预测的结果大不相同。您不应过度依赖前瞻性陈述,因为它们涉及已知和未知的风险、不确定因素和其他因素,这些风险、不确定性和其他因素在某些情况下是公司无法控制的,可能而且很可能会对实际结果、活动水平、业绩或成就产生重大影响。公司没有义务以任何理由公开更新或修改这些前瞻性陈述,也没有义务更新实际结果可能与这些前瞻性陈述中预期的大不相同的原因,即使未来有新的信息。可能导致实际结果与公司预期大相径庭的重要因素包括但不限于, 这些因素在该公司不时提交给美国证券交易委员会(SEC)和其他监管机构的文件中以“风险因素”和其他标题披露。
Contact:
IR@theCampusCo.com
联系方式:
邮箱:ir@theCampusCo.com
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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