Sipp Industries, Inc. (OTC Pink: SIPC) is a diversified holding company that operates across consumer products and hemp cultivation. Major Hemp is a wholly owned subsidiary of the company. Shares of the diversified company climbed 42.36%, during trading on Tuesday, January 23, 2018. Over the past month, Sipp Industries, Inc. has seen average daily volume of 4.14 million shares. However, volume of 5.26 million shares or dollar volume of $236,174, exchanged hands during today’s trading.
Shares of Sipp Industries, Inc. soared on Tuesday, after the company provided further updates on the production and distribution for its Major Hemp Brown Ale product. Major Hemp Brown Ale is a premium craft hemp beer, which will be ready for distribution in early February 2018. The product’s demand has been so strong that Sipp Industries, Inc. has initiated another production run of the hemp beer. The company will continue to focus on expanding Major Hemp Brown Ale into California and Colorado to start. Here is the full press release detailing of the corporate updates:
COSTA MESA, Calif., Jan. 23, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — Sipp Industries, Inc. (OTC:SIPC), a multifaceted corporation specializing in technology, manufacturing, and distribution of commercial and consumer products announces a new production run of Major Hemp Brown Ale (MHBA) is approaching maturation stages. The premium craft hemp beer will be ready for distributors in early February.
To continue catering the growing Colorado market, Sipp Industries had recently initiated another production run of MHBA with Denver based brewing partner Sleeping Giant Brewing Company. Based on forecasted demand, the companies have made contingency plans to more than triple production to fulfill expected demand.
Over the course of 2017, Major Hemp Brown Ale quickly gained in popularity throughout the state of Colorado expanding to over 45 new restaurants, bars and establishments. MHBA has been featured in Denver’s Westword, hosted two consecutive 4/20 events and continues to receive reorders from existing customers.
Sipp Industries will continue working through partner Colorado Craft Distributors to distribute MHBA throughout the state of Colorado. The companies believe they will continue to satisfy current orders and significantly grow its list of recurring customers over the course of the year.
President of wholly-owned subsidiary Major Hemp, Ted Jorgensen, commented, “As we approach our third year in the hemp beer business we couldn’t be more excited about 2018. We have a loyal and growing customer base that is opening up opportunities for Major Hemp Brown Ale nationally.”
The company is currently speaking with additional multi-state beer distributors to expand the market for Major Hemp Brown Ale outside of the state of Colorado. Jorgensen continued, “We are finalizing logistics and regulatory matters with several opportunities for mass distribution. Additionally, we have a pending purchase order with a third-party in the Midwest we are finalizing terms with. There is no shortage of demand for Major Hemp Brown Ale and we look forward to executing further sales and partnerships over the coming weeks.”
As Major Hemp Brown Ale embarks on national expansion parent company Sipp Industries has decided that MHBA will be packaged in cans versus bottles. Jorgensen stated, “The distributors we are forming relationship with are requesting cans due to the industry trend away from bottles. In addition to better preservation of taste, there are lower costs of stacking, storing and transporting which makes packaging in cans decision logical.”
The company is excited to report it is making progress for production and distribution of Major Hemp Brown Ale in the state of California which is the largest craft beer state in the country. The company plans to make formal announcements in the near future as terms of the agreement are executed.
Syman Vong, Chief Executive Officer of Sipp Industries, concluded, “Our team has been working diligently with our production, distribution, legal and regulatory partners and all the pieces are coming together. We expect 2018 to be an incredible year for Sipp Industries and our flagship brew, Major Hemp Brown Ale.”
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.