- Sibannac (OTCPK:SNNC) has signed letter of intent to acquire sleep fitness firm, SOMO, at terms undisclosed.
- If the deal goes through, Sibannac plans to bring SOMO sleep masks to market as well as develop future wellness products under its brand name. The latest prototype of these market-ready sleep mask are expected to be delivered this week while the final version to be ready by mid-April.
- "The opportunity for Sibannac to accelerate its entry into the wellness space with patented, wearable technology, is enormous. The sleep space is exploding and we are bringing the Campus Co. platform to life as Eric Stoll and the SOMO™ team launch the mask and set the stage for future extensions of the brand," said Sibannac's CEO David Mersky.
- Earlier (Feb. 15): Sibannac to launch flagship brand in practitioner channel