Major Hemp H-IPA Now Available in Over 50 Establishments as Demand Intensifies Throughout Illinois
COSTA MESA, CA – (GlobeNewswire – December 13, 2018) – Sipp Industries, Inc. (OTC: SIPC), a multifaceted corporation specializing in technology, manufacturing and distribution of commercial and consumer products, announces Major Hemp H-IPA is now being carried in 55 locations throughout the state of Illinois. The company reports that over the past few weeks, local establishments, pubs and liquor stores have expressed a significantly increased interest in selling the premium hemp-infused craft beer.
Sipp Industries’ distributor Wein-Bauer continues to make inroads with key customers and has now placed Major Hemp H-IPA in more than 20 store locations of Binny’s Beverage Depot, the largest beer and liquor chain in the state of Illinois. In addition, the company is in final discussions with two key national convenience and grocery store chains that have verbally committed to carrying Major Hemp H-IPA. After the completion of final approvals, Major Hemp H-IPA is expected to be placed into initial locations over the coming weeks.
President Ted Jorgensen of wholly-owned subsidiary, Major Hemp stated, “Our hemp beer has exceeded expectations, which is a testament to the brewing and distribution partners we have selected. The next run of Major Hemp H-IPA, expected be completed by the end of the year, will be considerably larger in order to enable timely fulfillment of our current retailers as well as new customers.”
In order to ramp up production, distribution and dissemination of its Hemp beers, Sipp Industries is in the process of submitting multiple recipe and Certificate of Label Approvals (COLA) to the Alcohol and Tobacco Tax and Trade Bureau (TTB). Once approved, this will permit the company to sell Major Hemp H-IPA in Colorado, and its first hemp-infused craft brew, Major Hemp Brown Ale, in both Colorado and Illinois. With two craft beers selling in two states, this expansion will allow for a potential quadrupling of sales within the next few months.
Recent events in Congress have paved the way for the national legalization of Hemp and all of its constituents, including cannabidiol (CBD). Following an 87-13 vote on Tuesday in the Senate, a 369-47 vote on Wednesday afternoon in the House of Representatives clinched the passage of the $867 billion “Farm Bill” through both chambers. Tucked inside the 807-page bill is Senate Majority Leader Mitch McConnell’s Hemp Farming Act of 2018, which removes Hemp and Hemp-derived CBD from the Schedule of Controlled Substances. This federal legalization of Hemp and Hemp-CBD is expected to radically transform the scope of the Hemp industry in the United States. Brightfield Group, one of the preeminent analytical forecasters in the cannabis space, is projecting the Hemp-CBD market to grow from $600 million in 2018 to $22 billion in 2022. Hemp-infused and CBD-infused beverages are anticipated to be one of the most rapidly growing divisions within this new American Hemp economy.
Chief Executive Officer of Sipp Industries, Syman Vong, concluded, “We have been inundated with demand for Major Hemp H-IPA since it was launched in November. With the recent passage of federal hemp legalization through Congress, we anticipate that requests for our Hemp-infused IPA will multiply at a greater rate and opportunities for the national expansion of our company will open up, given the increased acceptance and decreased stigma surrounding hemp-infused alcoholic beverages. In addition, we are now beginning to receive inquiries about CBD-infused versions of Major Hemp beer. So the past several weeks have been a really fantastic period of time for our company. Utilizing our successful business model of hemp beer development, production and distribution, we will continue to procure additional breweries and distributors in other states, taking the Major Hemp brand of Hemp-infused craft beer into different regions of the country, propelling our company’s growth throughout 2019 and beyond.”
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 hemp beer, high quality and competitively priced hemp-based products, bulk hemp, CBD supply, co-packing and private labeling services.
Website: https://sippindustries.com
Facebook: https://www.facebook.com/SippIndustries
Twitter: @SippIndustries
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
ir@sippindustries.com
949.220.0435
