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Sibannac, Inc. (SNNC) Announces Joint Venture With 1120 Management, LLC to Develop State-of-the-Art DEA-Compliant Psilocybin Research Facility in Phoenix, Arizona

  • Sibannac, Inc. (OTCID:SNNC) signed a Letter of Intent to form a joint venture with 1120 Management, LLC, an Arizona-based licensed medical cannabis operator.
  • The partnership will develop & operate a secure psilocybin research, cultivation, extraction, & analytical laboratory facility in Phoenix, Arizona.
  • The facility will be fully segregated to meet or exceed federal DEA Schedule I registration requirements and Arizona state regulations.
  • 1120 Management will contribute dedicated space within its 30,000-square-foot facility, substantial capital, in-house construction services, & full infrastructure support including 3,000 Amps of 480V 3-phase power.
  • Sibannac will provide scientific & operational staffing, expertise in psychedelic research protocols, clinical strategy, & regulatory navigation.
  • CEO David Mersky stated the partnership aligns with the April 18, 2026, Executive Order on Accelerating Medical Treatments for Serious Mental Illness.
  • The joint venture plans to pursue DEA Form 225 registration, potential FDA IND applications, & collaboration opportunities including ARPA-H matching funds.
  • The parties expect to finalize a definitive Joint Venture Agreement in the coming weeks.