COSTA MESA, CA--(Marketwired - Oct 20, 2016) - Sipp Industries, Inc. (OTC PINK: SIPC), a multifaceted corporation specializing in technology, manufacturing, and distribution of commercial and consumer products is pleased to announce the Company has entered into a contractual agreement with a notable Colorado brewery. In anticipation of rising demand upon licensing, the Company has mobilized to strengthen the Company's production capacity.
2016 has thus far been a very productive and transformational year for Sipp Industries. Having initially entered the market as a bulk hemp ingredient supplier to various product manufacturers and local Colorado craft breweries, such as Crazy Mountain Brewing and Ute Pass Brewing Co., Management discerned very quickly that the Company was standing at the threshold of an immense opportunity. In recognition of the potential market for distinctly formulated hemp infused beer, the Company decided to embark on the formulation, manufacturing and distribution of an exclusive line of hemp and Cannabidiol (CBD) beer.
The Company's strong prospect for success was discovered at a successful 4/20 event at Ute Pass Brewing Co. where patrons and shareholders sampled five distinct varieties of hemp and CBD beer. After receiving favorable reviews for its exceptional taste, subsidiary Major Hemp mobilized to determine and execute the best strategy to take this initiative to the next level, which involved interaction with potential licensing parties, manufacturing partners, and distributors.
Over the past quarter, the Company has become keenly aware of the advantages of exclusive ownership of its hemp and CBD recipes, trademarks, and wholesale licenses. By moving to secure the Company's proprietary rights, Sipp Industries takes full control of its own destiny as the business expands. As terms are finalized with legal counsel, Sipp Industries will establish full proprietary rights and control of the Company's hemp and CBD beer recipes. The Company expects to be able to make a formal announcement by the end of the month.
The Company's secondary hemp beer initiative focal point is the establishment of increased production capacity. In order to meet the demand requirements of major beer distributors, the company must prove it can consistently fulfill large orders. Major Hemp President Ted Jorgensen stated, "In anticipation of the fact that we had to be prepared to meet a quickly growing demand, we have been proactive in the search for capable partners. After interviewing multiple prospects, we have selected a brewer that exceeds all of our expectations and requirements."
This brewery, soon to be announced as partner, maintains a 70,000 square foot facility just outside Denver and has the capacity to produce up to 200,000 barrels a year. Moreover, this manufacturer is located in the heart of the Denver craft brew scene, which will bolster brand awareness and keep transportation costs down. This new partner also has access to local and national distributors which will enable Sipp Industries with the benefit of full turnkey brewing and distribution capabilities.
Chief Executive Officer Syman Vong commented, "We are confident that the time and effort invested into the creation and licensing of our proprietary hemp-infused and CBD beer will result in great success for the company and its shareholders. He concluded, "We firmly believe that the greatest potential for a high level of success is when timing and opportunity meet. At this stage in the game in the industry, it's evident that the revenue potential here can be exponential."
Upon finalization of all licensing and manufacturing agreements, the Company plans to update shareholders with an anticipated timeline for availability and its first wholly-owned hemp beer run.
About Sipp Industries, Inc.
Sipp Industries is a multifaceted corporation that specializes in technology, manufacturing and distribution of commercial and consumer products. Through its wholly owned subsidiary, Major Hemp, the Company provides high quality and competitively priced hemp based products, bulk hemp, CBD supply, co-packing and private labeling services.
Forward Looking Statements:
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team.
Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.