Business
Sibannac, Inc. Enters into Distribution Agreement with Direct Global Supply for Domestic and International Sales
Sibannac, Inc. Enters into Distribution Agreement with Direct Global Supply for Domestic and International Sales.
About this update from Sibannac, Inc.
[{"type":"text","content":"Scottsdale, Arizona--(Newsfile Corp. - November 15, 2022) - Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the \"Company\"), announced the following:Sibannac, Inc. has entered into a global distribution agreement with alternative health and supplement maker Direct Global Supply (DGS). DGS is a well-established developer and manufacturer of alternative health and wellness products.Originally based out of California, DGS and Sibannac are collaborating on the development of a new line of Kratom products to be manufactured out of Sibannac's FDA-registered facility in Scottsdale, Arizona. Kratom is the name of a tree from the coffee family native to Southeast Asia. Also known as mitragyna speciosa, it is grown in Thailand, Malaysia, and Indonesia. Kratom is a natural pain relief compound whose variant strains can also be used to balance mood. The market for Kratom products is growing exponentially as a natural alternative to pharmaceuticals that have plagued chronic pain patients with addiction. The current market, estimated to be $1.3 billion in the U.S. across 5 million users, products are currently sold online and at retail in alternative health stores. The Kratom industry and millions of users have voiced support for the product as a long-term treatment for chronic pain. In response, the FDA has reconsidered its initial intention to make Kratom a controlled substance. Sibannac's relationship with DGS has opened the access to highly coveted Kratom extracts and powders, which are needed as the raw material for manufacturing of various consumer products. Under the new relationship Sibananc is finishing the R&D on a new Kratom chocolate product which will be manufactured and shipped to distributors and consumers from our Scottsdale facility. The agreement with DGS is for worldwide distribution and includes all Sibannac products, including our next generation relaxation formula and newly acquired alcohol hangover remedy. As DGS is already a well-known distributor in the Kratom space, the new agreement will allow Sibannac to take advantage of DGS' existing network of wholesale and retail accounts to roll out a line of planned Kratom products. In addition, Sibannac's marketing team has long-standing relationships with independent physician and alternative healthcare providers, such as chiropractors and naturopaths, for distr...