Sipp Industries Announces Locations Carrying Major Hemp H-IPA More Than Double In December 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." http://ih.advfn.com/stock-market/USOTC/sipp-industries-inc-pc-SIPC/stock-news/78882025/sipp-industries-announces-locations-carrying-major
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