Sibannac Inc. (OTC:SNNC) Stock On Watchlist After a Major Development
Last Friday, Sibannac Inc. (OTC:SNNC) was one of the companies to hit the news cycle after it came up with a key corporation update. The company announced that it had been informed about the promotion of its stock by a third party. In the update, Sibannac noted that it had no advance knowledge of the same and had no association with any third parties that had publicized the promotional materials.
The company went on to note that it had not engaged the services of a third party with regard to any stock promotion of any nature. However, that was not all. The company also announced in the update that it was its intention to commission an investigation into the entities that had been responsible for the promotion and also their location, so as to serve cease-and-desist notices. To that end, the company also approached OTC Markets for help in locating and identifying the parties who had been responsible for the actions.
Sibannac was established in 1999 as a Nevada corporation and is based out of Scottsdale, Arizona. Currently, the company is a specialist in the creation and sale of high-grade, new-generation wellness products that belong in the consumer packaged goods category. Other than its popular products, the company is also known for the production of Kratom as well as hemp-based Delta 8/9 products.
The company also offers Amanita mushroom edibles for retail as well as wholesale sales and distribution. Sibannac is also involved in contract manufacturing and white-label services for firms. It helps with the management and creation of its own brands from the conceptualization phase through the distribution stage. The company also owns a marketing platform and has opened it up to clients who may want to use the brand-building and marketing services on offer.
On September 7, the company made a major announcement with regard to the Kratom Energy Shot product. The company announced that its subsidiary brand, Letz Go Energy, controlled by Immersive Brand Concepts, had been launched in the Las Vegas and New York City markets. The company launched the products through partnerships with Hygeia Distribution and AH80, two well-regarded distributors. It was noted in the press release that it was a significant revenue milestone as well.
In order to commemorate the launch of the brand, Letz Go Energy would introduce its Kratom Energy Shot product in the two markets. The company claimed that the product could be a path-breaking one with natural ingredients and certain catalysts that could help improve mood, alleviate pain, and boost focus. The company noted in its news release that Kratom Energy Shot offered a number of next-generation features, that provided it with an edge over other products in the market. The catalytic properties of the product were called the unique properties of the product.
