Costa Mesa, California--(Newsfile Corp. - August 20, 2020) - Sipp Industries, Inc. (OTC PINK: SIPC), a corporation specializing in manufacturing and distribution of commercial and consumer products, and the producer of craft hemp-infused beer and other fine alcohol beverages, announces the appointment of its new CEO and business update.
The Board of Director has appointed Mr. Nick Pelletiere as its new Acting Chief Executive Officer. Mr. Pelletiere offers a history of profitable business ventures. He has a proven track record in driving the rapid growth and development of small and medium-sized businesses, as well as large corporations, resulting in significant increases in revenue and market share. He offers dynamic and results-driven sales with 25+ years of sales experience across various industries, marketing, and management experience as well as ownership in business partnerships. Mr. Pelletiere has a very entrepreneurial, enthusiastic, and passionate mindset to generate leads, pursue and secure new business opportunities, as well as meet and exceed sales targets.
In light of the impact of the Covid-19 pandemic, Mr. Pelletiere will evaluate and make the necessary changes to the Company's business to improve its efficiency, ability to capture new markets and to enhance shareholder value. The effort will start with becoming current with OTC Markets.
Due to the soft market of on premise sales caused by the lockdown, the Company had put its beer production on hold after donating the remaining inventory to produce hand sanitizer for healthcare workers. In preparation for the reopening of bars and restaurants, Sipp has been working on new flavors and the design of its new product label. It is also in talks with a few California craft breweries and establishments to formulate plans to produce and sell the Company's new line of products.
To expand into the market of wine and spirits, the Company has acquired the interest of Elite Beverage International's equity from Wanderport Corporation (OTC PINK: WDRP). Elite Beverage is the producer of premium Tequila Comisario which had won Double Gold for all three of its expressions in the 2019 World Spirits Competition. Tequila Comisario is currently being sold in over 30 states including 9 out of the top 10 Tequila selling states.
Elite Beverage also offers a wide range of wine from Italy. Sipp will leverage this resource as well as its own contacts in Italy to offer a line of fine wine to the US and overseas markets.
"There have been challenges with the business development of Sipp Industries due to some factors that are outside of its control. However, there are significant potential with the Company's product line. I am excited to be part of the organization and help reshape its future for rapid growth," commented Nick Pelletiere, Acting Chief Executive Officer.
About Sipp Industries, Inc.:
Sipp Industries is a corporation that specializes in manufacturing and distribution of commercial and consumer products, and the producer of craft hemp-infused beer and other fine alcohol beverages.
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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
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