SIPC WORKING WITH FDA TO GAIN APPROVAL FOR CBD BEER Sipp Industries Announces Major Hemp HIPA Now Selling at Hy-Vee Supermarkets Hy-Vee adds to growing list of retail customers throughout the Midwest https://www.globenewswire.com/news-release/2019/05/09/1820767/0/en/Sipp-Industries-Announces-Major-Hemp-HIPA-Now-Selling-at-Hy-Vee-Supermarkets.html
COSTA MESA, Calif., May 09, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Sipp Industries, Inc. (OTC: SIPC), a multifaceted 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
, announces Hy-Vee Supermarkets (“Hy-Vee”) are now carrying Major Hemp HIPA in select locations in Iowa, with plans to quickly expand to additional stores over the coming weeks. Hy-Vee
was founded in 1930 as a single general supply store during the Great Depression. Despite its inauspicious beginnings, it has grown tremendously into a thriving supermarket chain encompassing 245 supermarkets throughout the states of Iowa, Illinois, Kansas, Minnesota, Nebraska, South Dakota and Wisconsin.
Hy-Vee currently has 85,000 employees and generates more than $10 billion in annual sales. The largest Hy-Vee stores include full-service bakeries, delicatessens, pharmacies, dine-in food service, liquor and beer. Many other stores maintain fuel states with convenience stores carrying beverages.
Launched in November 2018, Major Hemp HIPA’s formulation includes hemp seed powder
, which is essentially free of both THC and CBD. In December 2018, immediately following the passage of the Agriculture Act of 2018, known commonly as the 2018 Farm Bill, which federally legalized hemp and hemp-derived CBD, the FDA certified hemp seed powder as Generally Regarded As Safe (“GRAS”), formally legalizing its use
in the food supply. The FDA is currently evaluating the permission of hemp-derived CBD into food and beverages.
President Ted Jorgensen
of wholly-owned subsidiary, Major Hemp, stated, “I am extremely proud of our beer being placed at Hy-Vee. There is a tremendous opportunity for Major Hemp HIPA to be placed at each of their 245 store locations.
Mahaska has been doing a fantastic job with distribution and official entry into Hy-Vee will only open more opportunities throughout the Midwest with larger retail customers.”
The Company also reports that Major Hemp HIPA has nearly sold out of inventory with the first placements of Major Hemp HIPA at Tony’s Finer Foods (“Tony’s”). In tandem with distributor B&D Syndicate, the Company is working on replenishing supply to the 15 Tony’s stores in the greater Chicago market heading into the busy Summer beer drinking season. In addition, Major Hemp HIPA has been reordered after initial test store placements including Mariano’s and 7-Eleven.
Chief Executive Officer, Syman Vong commented, “Major Hemp HIPA has sold extremely well in pubs, restaurants and liquor chains such as Binny’s Beverage Depot. The addition of larger supermarket chains such as Hy-Vee and Tony’s are a central part of our growth plans
and we’re thrilled to be making such rapid progress with these notable customers.” Sipp Industries also announces an important update to shareholders on the progress of its submitted CBD-infused beer recipe. This past week, the Alcohol and Tobacco Tax & Trade Bureau (“TTB”) provided additional instructions for submission of regulatory documents to the Food and Drug Administration (“FDA”). The Company is actively working with the FDA to provide all necessary information to gain official recipe
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Read that last paragraph again:
Sipp Industries also announces an important update to shareholders on the progress of its submitted CBD-infused beer recipe. This past week, the Alcohol and Tobacco Tax & Trade Bureau (“TTB”) provided additional instructions for submission of regulatory documents to the Food and Drug Administration (“FDA”). The Company is actively working with the FDA to provide all necessary information to gain official recipe approval.
This is amazing!!!
The TTB told SIPC to submit regulatory documents to the FDA
Now why would the TTB do that?
And now SIPC is “actively working with the FDA to provide all necessary information to gain official recipe
SIPC is advancing to the final step in the process to gain approval for their CBD Beer recipe
It looks like the TTB has given them approval and the FDA is the final step in the process
This is a serious gamechanger
SIPC is now on track to become the first, or one of the first, companies in America to gain approval to produce and sell CBD Beer