Sipp Industries Provides Update on Major Hemp HIPA Expansion
Major Hemp HIPA now available in over 250 locations across the Midwest
COSTA MESA, Calif., July 31, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Sipp Industries, Inc. (OTC: SIPC), a corporation specializing in manufacturing and distribution of commercial and consumer products, and the first publicly traded company in America whose primary focus is the production and sales of hemp-infused beer, updates shareholders on continued market penetration of Major Hemp HIPA in over 250 locations throughout the states of Illinois, Missouri, Iowa and Kansas.
In the Illinois market, Tony's Finer Foods has completely sold out of the initial trial run of Major Hemp HIPA that began in April. Sipp Industries' local Chicago area distributor, B&D Syndicate (formerly Wein-Bauer), reported it has received orders of Major Hemp HIPA for six new Tony’s stores throughout the greater Chicago area and expects to capture the remaining 13 stores by the end of the year.
During the second quarter, Major Hemp HIPA opened up new markets in Central and Southern Illinois, as well as the state of Iowa, with distributors Egizzi and Mahaska. Both distributors have reported strong sales of Major Hemp HIPA and are gradually exhausting their initial inventory. A new 30bbl run of HIPA has started a few weeks ago and will be available shortly with distributors standing by to place orders.
The Company continues to work through Certificate of Label Approval (COLA) for the state of Missouri which has been delayed by regulatory authorities due to hemp being an ingredient. Official approval is expected in August. Sipp Industries' Missouri distributor, Sparta Beverage, has pre-orders it will fulfill as Major Hemp HIPA is authorized to be sold in the state.
Over the course of 2019, the primary focus of Sipp Industries and subsidiary Major Hemp has been to expand its geographic footprint nationally. The Company reports that significant progress is being made in Texas with new contract brewing partner Nine Band Brewing Company. Currently, the brewing infrastructure is in place and ready to go immediately following regulatory approval.
The Texas Alcoholic Beverage Commission (TABC) has an extensive list of requirements of which the Company is currently working through. It is expected to be completed and approved over the next 4-5 weeks. Pending this, Sipp Industries plans to have access to the vast majority of the Southern states and as far west as California where the Company is proactively negotiating distributor terms.
President Ted Jorgensen of wholly-owned subsidiary, Major Hemp, stated, "We are very excited for the next 3-6 months as Major Hemp HIPA is positioned for national expansion with our existing brewing partners and distributors. There is no shortage of interest and demand for Major Hemp HIPA and our focus remains attracting more distributors regionally and nationally."
About Sipp Industries, Inc.
Sipp Industries is a corporation that specializes in manufacturing and distribution of commercial and consumer products, and the first publicly traded company in America whose primary focus is the production and sales of hemp-infused beer.
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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.
Contact:
Ted Jorgensen
Major Hemp President
Sipp Industries, Inc.
Investor Relations
949.220.0435
