Insynergy Initiates Major Strategic Refocus
Corporate Name Changed to Starco Brands
Licensing Agreement With The Starco Group Marks New Consumer Product Focus
Consumer Products Veteran Ross Sklar Appointed CEO
SANTA MONICA, Calif., Sept. 14, 2017 (GLOBE NEWSWIRE) -- Insynergy (OTC:ISYG) has changed its name to Starco Brands (OTCBB:STCB), and has begun a major strategic refocusing of its business, establishing a plan to commercialize unique consumer products in a variety of categories, including household, air care, personal care, food, spirits and beverages.
As part of the repositioning, Insynergy is announcing several other corporate changes, including:
- a licensing agreement with The Starco Group (a Los Angeles-based manufacturer of a wide range of consumer products);
- the change of the company’s stock trading symbol to STCB; and
- the appointment of Ross Sklar of The Starco Group as CEO.
Under the new strategy, Starco Brands will enter multiple consumer product categories through the creation of new proprietary products and brands featuring significant and innovative features. The company’s licensee, The Starco Group, is currently a vendor to the broad retail market and will manufacture and distribute Starco Brands’ new products to retail channels across North America.
The first consumer product launched as part of this new initiative is breathe™, a line of environmentally-friendly aerosol household cleaning products that is currently on shelves at Wegmans Food Markets, a 93-store grocery chain known for its innovation and promotion of cutting-edge products. Breathe is the first aerosol household cleaning line ever certified globally by the EPA’s Safer Choice Program.
“We have a unique opportunity to establish Starco Brands as a major force in the consumer household products segment,” said Ross Sklar, CEO. “The Starco Group is currently manufacturing and distributing a wide range of consumer chemical and food products, and expects to create significant shareholder value by bringing Starco Brands the opportunity to create new proprietary brands in categories we know very well. Breathe is a great example of the kind of innovation that The Starco Group and Starco Brands can come together and bring to market.”
The launch of Breathe and other future brands will be supported by a world-class team of sales and marketing professionals and distribution partners.
Ross Sklar is the founder and CEO of The Starco Group. He is a chemical formulator by trade and started his first company—SEI Group—while still in college in 1997. Sklar was able to commercialize novel chemical technologies in the fields of corrosion and microbiological control and grew SEI in the Alberta oil & gas sector. In 2004, Sklar began a robust acquisition strategy and acquired ten companies in a decade and, in the process, created The Starco Group. He holds a Bachelor’s Degree in Political Science from the University of Manitoba.
The name change to Starco Brands is part of a series of reorganization and restructuring moves expected to be enacted over the course of the next year as the company evaluates its opportunities for 2017 and beyond. The board of directors also approved a change in the stock’s trading symbol. Effective today, company’s stock will trade under the symbol STCB.
About Starco Brands
Starco Brands (formerly Insynergy) was incorporated in 2010 to engage in direct response marketing of consumer products via television, e-commerce and retail. The company is now embarking on a new strategic refocusing initiative. A major part of the repositioning will be a license agreement with The Starco Group, a Los Angeles-based manufacturer of consumer household products. The company’s name was changed from Insynergy to Starco Brands on September 7th, 2017, and its new stock trading symbol (STCB) was approved on September 13th, 2017. For more information, investors should visit www.starcobrands.com.
About The Starco Group
The Starco Group was founded in 2010 by Ross Sklar and today is a large-scale private label manufacturer of a wide range of consumer household aerosol categories, including cleaning solutions, air care, spirits and beverages, food preparation, paints, coatings, adhesives, arts & crafts, seasonal, personal care cosmetics and other categories. For more information, visit www.thestarcogroup.com.
Cautionary Note on Forward-Looking Statements
This press release may include forward-looking information and statements within the meaning of federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “project”, “intend” and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management’s current belief, as well as assumptions made by, and information currently available to, management.
While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to the Company’s liquidity, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.
CONTACT:
CONSUMER/TRADE PRESS
Starco Brands
Lisa Becker
888.816.1161
lisa@starcobrands.com
INVESTORS/FINANCIAL PRESS
Liolios
Sean McGowan
949.574.3860
smcgowan@liolios.com
Released September 14, 2017