Business
Sibannac, Inc. to Enter into Manufacturing Agreement with Major Extraction Partner for Onsite Oil Production
Sibannac, Inc. to Enter into Manufacturing Agreement with Major Extraction Partner for Onsite Oil Production.
About this update from Sibannac, Inc.
[{"type":"text","content":"Scottsdale, Arizona--(Newsfile Corp. - December 13, 2023) - Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the \"Company\"), announced the following:Sibannac, Inc.'s Campus Co. (Campus Community) has agreed to principle terms with a major extraction partner to move its manufacturing operations and equipment into our Scottsdale facility. Upon full execution of the agreement, we will disclose the partner's information and details regarding our clients and revenues. It is anticipated that Sibannac will generate annual top-line revenue approaching $1M in 2024. Existing clients are large, nationally known supplement brands who will take our bulk oil extracts to finish into retail ready consumer goods. The new equipment includes HPLC (High Performance Liquid Chromatography), an analytical technique used to separate, identify or quantify each component in a mixture. The Company will be able to conduct onsite oil extraction and separate compounds like CBD, CBN, CBG, as well as Delta-8 and Delta-9 THC. This relationship is expected to expand in 2024 into the manufacturing of non-cannabis consumer goods. Further disclosure and product details will follow upon full execution of the agreement. We have included photos of a sampling of the equipment herein, which has all been relocated and is being assembled at Sibannac's facility at this time. \"This is a major coup for Sibannac, as we're entering into the extraction space with one of the best partners in the industry. Make no mistake, the second generation companies that have survived in the cannabis space are going to thrive. Sibannac is getting in without any capital investment and, through our partner, we're walking into a very stable and long-standing client base, that assures ongoing revenues,\" said Sibannac's Chief Executive Officer, David Mersky. \"The future with our new partner, however, also heavily involves products in the non-cannabis, nutraceutical space, where their manufacturing tech is disruptive,\" said Mersky. Annual Report and DisclosureThe Company has filed its annual report for fiscal year 2023 which is now posted at OTC Markets.The KavernThe Kavern is the name of Sibannac's first retail Kava/Kratom bar and is located in Scottsdale, Arizona. It will be open for the holiday season this year, as the buildout is nearly complete. Located near the heart of Scottsdal...