SIPP Industries Inc (SIPC)

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Sipp Industries Signs Definitive Agreement to Acquire Minority Stake in Wanderport Corporation, Jointly Introduces New Hemp Beer
Published: Sept 26, 2017 8:31 a.m. ET

COSTA MESA, CA, Sep 26, 2017 (Marketwired via COMTEX) -- COSTA MESA, CA--(Marketwired - Sep 26, 2017) - Sipp Industries, Inc. SIPC, +5.51% a multifaceted corporation specializing in technology, manufacturing, and distribution of commercial and consumer products is pleased to announce that the Company has signed the definitive agreement to acquire a minority stake of Wanderport Corporation WDRP, -16.81% via a stock swap.
Per the terms of the agreement, the Company will receive twenty five million restricted common shares of Wanderport Corporation in exchange for twenty five million restricted common shares of Sipp Industries.
"We are a strong believer of synergistic collaboration and partnerships. We are confident that our collective efforts will result in quality products and services which will benefit the consumers and industry as a whole. We look forward to working with Wanderport's team in all future endeavors," commented Syman Vong, CEO of Sipp Industries.
As part of a joint venture, the two companies will collaborate to increase production of Major Hemp Brown Ale (MHBA) and expand its distribution beyond Colorado, starting with California. The Company has identified a local distributor who can place MHBA into establishments in Southern California. Effort is underway to secure and ship the initial order to start the expansion process.
The Company has also been working with a California craft brewery to produce and package MHBA in kegs, cans and bottles for nationwide distribution. As part of the process, the Company has initiated the design of the labels which it expects to submit to TTB sometime next month for approval.

Furthermore, Sipp and Wanderport will jointly produce a new beer flavored with Hemp Coffee which the companies expect to launch next quarter. A test batch of CBD Coffee beers will also be brewed for evaluation and will be made available for distribution if approved.

"We are excited to work with Wanderport in executing the expansion plan for our Hemp beer. Our Major Hemp Brown Ale has been receiving rave reviews and is now ready for broader distribution. We look forward to working with the California brewery and Wanderport to make our great tasting beers available everywhere," commented Ted Jorgensen, President of Major Hemp, Sipp Industries' wholly owned subsidiary.
"Our various flavors of Hemp Sapa Coffee™ have been selling well both on and off line with great reviews. Coffee flavored craft beers have always been popular so we are very optimistic that our new Hemp Coffee beer will be well received. We could not be more pleased than to work with a partner like Sipp Industries to launch this new product," stated Ty Cha, Wanderport Chief Executive Officer.
Sipp Industries' Major Hemp Brown Ale is currently being sold in over thirty locations in Denver, Colorado area.
Wanderport's Sapa Coffee™ product line consists of Hemp coffee in five flavors, including Colombian Supremo, Decaf Colombian Supremo, Italian Roast Espresso, Hazelnut and French Vanilla. Its CBD coffee is available in the Colombian Supremo, Decaf Colombian Supremo and Italian Roast Espresso flavors. The coffees are being sold on Amazon and Sapa Coffee™ online store.
About Wanderport Corporation
Wanderport Corporation is a premier distributor of food, beverages and consumer products made with hemp. Its premium quality coffee blends are currently being sold in a growing number of grocery stores and small businesses in the Southern California territory. Its products are also sold online at www.sapacoffee.com and www.amazon.com. For more information, please visit http://www.wanderportcorp.com.
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.
Website: http://www.sippindustries.com Facebook: https://www.facebook.com/SippIndustries Twitter: @SippIndustries
Forward Looking Statements:
http://www.marketwatch.com/story/sipp-industries-signs-definitive-agreement-to-acquire-minority-stake-in-wanderport-corporation-jointly-introduces-new-hemp-beer-2017-09-26