The Company is proud to announce entry into a Letter of Intent with sleep fitness innovator - SOMO™. Led by renowned marketing and fitness experts, Lisa Juris & Paul Juris, SOMO™ has developed a patent pending sleep mask, incorporating SOMO™'s Accupressure point, with a unique adjustable retention band, for entry into the soon-to-be $14.5 billion U.S. Sleep Aid market. The global sleep market is currently $432 billion.
Based on the Yin Tang pressure point - which has been clinically shown to induce calm and reduce stress - SOMO™'s innovation has been expertly researched and designed to provide next generation wellness in the burgeoning area of Sleep Fitness™. The Company's mission statement is to deliver simple and effective solutions for stress relief and sleep fitness, making people healthier and happier.
The parties are negotiating the terms of an equity acquisition by Sibannac, in which the Company would be collaborating with SOMO™ to bring the mask to market as well as develop future wellness products under the SOMO™ brand. Eric Stoll, Sibannac's Chief Marketing Officer, has already developed the initial branding and will continue that effort for SOMO™ through Sibannac's Campus Co.
SOMO™ already has a large, pending purchase order, from an international distributer, subject to production of the market-ready sleep mask. The latest prototype will be delivered this week and the final version of the mask is estimated to be ready by mid-April.
Lisa and Paul Juris, co-founders of UrbanCave, Inc., said, "We're thrilled to add our SOMO™ brand, vision, and expertise to the Sibannac portfolio, and help establish a leadership position in the global health and wellness space. We couldn't have found a better partner to deliver the highest quality solutions with the utmost integrity."
David Mersky, CEO of Sibannac, remarked, "The stars are aligning for us now, as we move forward with Lisa and Paul of SOMO™. The opportunity for Sibannac to accelerate its entry into the wellness space with patented, wearable technology, is enormous. The sleep space is exploding and we are bringing the Campus Co. platform to life as Eric Stoll and the SOMO™ team launch the mask and set the stage for future extensions of the brand."
https://www.newsfilecorp.com/release/115026