DrazCanna meets DrazCanna – Company announces Letter of Intent signed for reverse merger between DrazCanna, Inc. (OTCBB:SIBED) and DrazCanna, Inc. (a Michigan based corporation). Company discloses organization’s Nutrient Optimizer Algorithm for Cannabis cultivation and Female to Female strain development process
DEARBORN HEIGHTS, MI / ACCESSWIRE / March 31, 2022 / Shareholder Record Date as of April 1st, 2022 for special shareholders meeting on May 6th, 2022
“The signing of the Letter of Intent is our next step in the entrepreneurial journey” stated Hussein Anani, President of DrazCanna, Inc. “Our efforts in the evolution of our R&D endeavors resulted in some fine achievements by our team and we are excited as we move toward shareholder vote on the proposed reverse merger.”
Letter of Intent for Reverse Merger
The Letter of Intent, signed March 31st, 2022, is among DrazCanna, Inc., a Michigan corporation (“DRAZCANNA”), the shareholders of DRAZCANNA, DrazCanna, Inc., a Texas corporation (OTCBB:SIBED), Hussein Anani, the sole officer and director of SIBED and the Managing Member of The High Company, LLC (“THC”), a Michigan limited liability company, and an officer and director of DRAZCANNA, the controlling shareholder of SIBED and THC. The purpose of this LOI is to set forth the terms and conditions pursuant to the execution of a DEFINITIVE SHARE EXCHANGE AGREEMENT for approval of the Shareholders at an annual meeting to occur on May 6, 2022. DRAZCANNA owns two subsidiaries, Lybull, Inc. and Drazmatic, Inc.
The parties agreed to the following terms for presentation to shareholders for vote:
DrazCanna, Inc. (OTCBB:SIBED) will own 45,000,000 common shares of DRAZCANNA, representing all of the issued and outstanding equity of DRAZCANNA (Michigan);
The Shareholders, or their assignee(s), will be issued an aggregate of 90,000,000 shares of SIBED, $0.0001 par value per share the Common Stock, representing 90.39% of SIBED’s outstanding shares of Common Stock (the “Share Exchange”), calculated post-issuance;
THC shall return and retire 27 of the 30 outstanding shares of Special 2021 Series A Preferred Stock, $0.0001 par value per share (the “Preferred Stock”), to SIBED, representing at least 540,000,000 shares of Common Stock if converted and
DRAZCANNA will hold no common shares of SIBED, as the wholly-owned subsidiary of SIBED.
“We believe the proposed reverse merger share structure could present existing shareholders an opportunity to move forward after sitting as a dormant shell since 2016,” Anani stated. “As we move forward in our evolution of SIBED, our team accomplishments over the last six years deserve recognition. I would like to introduce a fellow founding team member, Gina Szpak.”
Gina Szpak, President of i2bConsultants (data analytics and process improvement consulting firm) and a founding team member of DrazCanna (Michigan) added, “The evolution of Drazcanna is thanks to the dedicated work of our team members since our humble beginnings in 2015 where we produced a number of significant achievements with our approach to cannabis cultivation and extraction,” stated Gina Szpak. “Our unique cannabis cultivation approach is based upon principles of the data-driven cultivation process coined by Dutch scientists ‘Growing by Plant Empowerment’ coupled with DrazCanna’s own Nutrient Optimizer Algorithm.”
“Our Nutrient Optimizer Algorithm was about overcoming the conundrum of dichotomy between cannabis cultivation and empirical data needed as the basis of predictive data analytics. The resolution allowed us to see the “bell curve” within our data and the optimization of nutrients relative to changing dynamics within environmental variables.” Gina Szpak continued – “Our approach to data-driven cultivation provides us with measurements of plant health four times per day enabling nutrient adjustment with the goal of maximizing plant health in indoor cultivation of cannabis without AC.”
“Innovation was built into each facet of our development. As we explored plant physiology, we developed a process whereby female to female strain development can provide an additional basis for further research opportunities beyond traditional male/female strain development via seed,” said Szpak. “Over our six year developmental history, our team of over thirty individuals achieved a number of innovations within strain development, data analytics, environmental responsibility, and cultivation processes and equipment.”
DrazCanna’s (Michigan) cultivation approach utilizes inert media so that it receives accurate data regarding plant health as well as appeal to requirements for medical development. DrazCanna intends to share additional information about its six-year Bio-Pharmaceutical development history in public announcements to come.