SIPP Industries Inc (SIPC)

[badguy3101]

COSTA MESA, CA, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Sipp Industries, Inc. (OTC Pink: SIPC), a multifaceted corporation specializing in manufacturing, and distribution of commercial and consumer products in the cannabis industry, announces it has acquired a minority interest in Tulsa, Oklahoma-based, Calypso Extracts (“Calypso”).

Under the terms of the agreement, Sipp Industries had acquired a 5% stake in Calypso, with an option to acquire up to 10% within 12 months.

Calypso is a vertically integrated manufacturer of a wide variety of cannabis products ranging from extracts, concentrates and edibles, to bulk and customized nano emulsified THC and CBD concentrate used in beverages and edibles. The company has applied for its certified cannabis manufacturing license with the Oklahoma Medical Marijuana Authority (“OMMA”) and is in the final stages of approval. Calypso operates a 10,000 sq ft facility in Tulsa, Oklahoma which has adequate room for future expansion.

Calypso currently serves as a private label manufacturer for its wide-reaching products with a growing list of notable cannabis brands. The company also produces and distributes cannabis products under the Calypso Extracts brand including vape cartridges, as well as soon-to-be released gummies and other edible products. Calypso currently works with the largest cannabis wholesaler in Oklahoma, Argent Cannabis, (“Argent”, www.argentcannabis.com) to sell its products online as well as directly to dispensaries. The company expects to add additional SKUs to the website in the near future. Argent currently serves over 2,000 dispensaries throughout the state, providing an immense amount of growth and product saturation opportunities.

Calypso Extracts has developed a proprietary nano emulsion process that significantly enhances the stability and bioavailability of hemp and cannabis cannabinoids. Products created with nano emulsions take effect more quickly than traditional infused edibles and beverages while delivering a more consistent and enjoyable experience for consumers. The company is already receiving interest from well-known cannabis brands to provide its concentrate in bulk format for their respective products.

Sipp Industries is also exploring a partnership with a Los Angeles based cannabis manufacturer and distributor to produce a range of edibles and beverages. Additional information will be provided as progress is made.

“We are thrilled to take an initial stake in Calypso Extracts, which is poised for incredible growth this year and beyond,” stated Nick Pelletiere, Chief Executive Officer. “Sipp Industries will be able to capture immediate revenue and profits, but more importantly, a trusted partner with capacity to procure bulk ingredients and manufacture products that fit synergistically into our business plan. We appreciate the loyalty of our shareholders and couldn’t be more excited about 2022.”


https://www.globenewswire.com/news-release/2022/01/04/2360846/0/en/Sipp-Industries-Acquires-Minority-Interest-in-Calypso-Extracts.html



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