Scottsdale, Arizona--(Newsfile Corp. - April 9, 2021) - Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the "Company"), announced the following:
Acquisition
Sibannac, Inc. and Eric Stoll, founder of Lifetime Branding Collaborative LLC ("Lifetime"), a California limited liability company, have executed a binding term sheet giving Sibannac the option to acquire the agency and immediately appoint Mr. Stoll as Vice President of Marketing. As the transition begins, the parties will determine the ultimate purchase price of the acquisition, but have agreed on the valuation parameters. Mr. Stoll will receive shares in a newly created class of preferred stock, which is convertible to common upon achievement of pre-determined revenue benchmarks and will have further compensation under an employment agreement with the Company.
The acquisition will result in Sibannac assuming all of Lifetime's revenues and have the unique opportunity of having a nationally renowned, full-fledged branding and marketing agency in-house. Sibannac will then enjoy unprecedented economy of scale and cost savings while having some of best branding talent under the corporate umbrella.
Sibannac's CEO, David Mersky, said, "Sibananc is very lucky to have the opportunity to bring Eric aboard and fully dedicated to our brands. He's a unique talent and one of the best in the business and now he'll be able to run the show. We've worked together on our new concept for a year now and we'll be announcing shortly. The work so far is unparalleled and the whole team is incredible. The best part is that Sibannac will reap huge savings by leveraging Lifetime's clients to offset our development costs, which are huge for a new brand."
Eric Stoll
Mr. Stoll and his team are career brand builders with extensive experience in the nutrition space, including herbal supplements and candy. Over more than 30 years, Eric has created marketing and ad campaigns for some of the country's most notable brands and has been engaged by Sibannac to create a Delta-8 brand called RāD8, as well as the company's core brand, focused in the alternative wellness space.
Eric has an impressive track record not only advancing already established brands for some of the Fortune 500, but also creating new brands from the ground up. Mr. Stoll and his team of marketing professionals and formulators are set to launch Sibannac's wellness brand into key market segments, including wholesale, retail and direct-to-consumer.
Mr. Stoll brings both client side and agency experience to Sibananc and the Lifetime team is comprised of not only design and creative talent, but sales and operations as well, with deep experience in merchandising and distribution. He built the Super Candy brand to 25,000 doors in three years and was carried in Walmart, Target, Costco, Whole Foods and leading pharmacies. "This is a perfect match at the perfect time. What motivates me every day is creating and supporting emerging brands and helping create a strategy for long term sustainability. The brands that we are creating are very exciting and my team is elite. I work with some of the best talent, but also the very best people in the industry. Bringing this all together under with David under Sibannac is going to be something to see", said Eric Stoll, Lifetime's founder.
NOHO, INC. (OTC Pink: DRNK)
While Eric and his team will continue to build the brand architecture and roll-out for Sibannac, they will also begin to provide branding and marketing services for NOHO, Inc. (OTC Pink: DRNK) where the majority of products will be manufactured in Sibannac's facility in Scottsdale, Arizona. NOHO is currently negotiating an equity arrangement with Mr. Stoll as well, paving the way for Lifetime to lead the relaunch of the NOHO product line and expand into new market segments.
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 Noho, 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.
Media Contact:
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