Naturally Splendid Announces Proprietary HempOmega™ Approved for Hemp Fortified Beer Formulations and Commences Production
Naturally Splendid (TSXV:NSP) is pleased to announce an Exclusive Sales Agreement with Sipp Industries Inc. (OTC: SIPC), which has received approval in the states of Colorado and Illinois to include HempOmega™ as an ingredient in their custom formulated hemp beer and has produced their “Major Hemp Brown Ale” and newly developed “Major Hemp H-IPA brands to multiple locations throughout Colorado and Illinois.
Under the terms of the Agreement, Naturally Splendid grants Sipp limited exclusive rights to purchase HempOmega™ for use as a beer beverage additive in its Alcohol Tobacco Tax Trade Bureau (“TTB”) approved hemp beer recipe, and to sell its TTB approved hemp beer recipe to third party beverage companies, in Colorado and Illinois on an exclusive basis pending meeting certain volume and activity levels. Additionally, Sipp is in the process of applying to TTB for regulatory approvals to include HempOmega™ in beer formulations in California and Texas and will be granted limited exclusive rights for those states upon final approval from TTB for inclusion of HempOmega™ into beer formulations.
Naturally Splendid CEO, Mr. Doug Mason states, “We are more than pleased to see the success Sipp has attained with our proprietary HempOmega™ ingredient in their beer formulations after significant testing. After a year of testing, Sipp has developed a hemp beer with broad consumer appeal. Additionally, Naturally Splendid is pleased to have formed a strategic relationship with Sipp that will begin to aggressively market HempOmega™ as an ingredient to both craft and national beer companies in the United States.”
To continue catering to the growing Colorado market, Sipp Industries initiated production of Major Hemp Brown Ale 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 and 2018, Major Hemp Brown Ale quickly gained in popularity throughout the state of Colorado expanding to over 50 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 with partners 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 and beyond. We have a loyal and growing customer base that is opening up opportunities for our Major Hemp branded beers 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.”
The company is excited to report it is making plans for production and distribution of Major Hemp branded beers in the state of California which is the largest craft beer state in the country as well as Texas.
Sipp Industries, Inc. a multifaceted corporation specializing in technology, manufacturing and distribution of commercial and consumer products, announces that it has completed new label designs for flagship hemp beer “Major Hemp Brown Ale” and newly developed “Major Hemp H-IPA.” The Company reports that it is in the process of submitting both labels for Certificate of Label Approval (COLA) to the Alcohol and Tobacco Tax and Trade Bureau (TTB).
The Brewers Assocaiton, conducted a study and found that overall U.S. beer volume sales were down 1% in 2017, whereas craft brewer sales continued to grow at a rate of 5% by volume, reaching 12.7% of the U.S. beer market by volume. Craft production grew the most for microbreweries.
Retail dollar sales of craft increased 8%, up to $26.0 billion, and now account for more than 23% of the $111.4 billion U.S. beer market.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a biotechnology and consumer products company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient dense foods, and related products. Naturally Splendid is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and cannabinoid compounds in a broad spectrum of applications.
For more information e-mail email@example.com or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. Douglas Mason
Naturally Splendid Enterprises Ltd.
(NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt)
#108-19100 Airport Way
Pitt Meadows, BC, V3Y 0E2
Office: (604) 465-0548
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Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Naturally Splendid cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Naturally Splendid’s control including, Naturally Splendid’s ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; sales of shelled hemp seed will continue at existing rates or increase; the ability to complete the sales of all bulk hemp seed purchase orders; and the risk that any of the potential applications may not receive all required regulatory or legal approval. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Naturally Splendid undertakes no obligation to publicly update or revise forward-looking information.
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