Business
Sibannac, Inc. Returns 102,233,482 Reserved Shares Back to the Treasury
Sibannac, Inc. Returns 102,233,482 Reserved Shares Back to the Treasury.
About this update from Sibannac, Inc.
[{"type":"text","content":"\n Scottsdale, Arizona, June 10, 2021 (GLOBE NEWSWIRE) -- Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the “Company”), announced the following: On February 10, 2021 the Company entered into a debt financing Agreement with Continuation Capital, Inc., a Delaware corporation (“CCI”), to capitalize the product and branding efforts being spearheaded by Liftetime Branding on behalf of the Company. Under the Agreement, the Company agreed to issue shares of its common stock to CCI in exchange for payment to Liftetime in the aggregate amount of $432,000.00. Prior to its entering into the Agreement, CCI had purchased the accrued billings from Lifetime, pursuant to a claim purchase agreement authorized under section 3(a)10 of the Securities Act of 1933. The branding campaign began in July 2020 when the share price was $.02. The Company is pleased to announce that CCI has completed the financing agreement and has sold through its position, allowing the Company to return the contracted reserved shares back to the treasury.  As of the close of business on June 9, 2021, the share price was $.27, reflecting a 1,350% increase over the financing period and all the accrued debt has been fully retired. The Company and Lifetime are continuing to build the brand assets under The Campus Co., and will be announcing the launch of the highly anticipated, next generation wellness brand, very soon.  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,” “potentia...