Sipp Industries Signs Letter of Intent to Acquire Minority Stake in Wanderport Corporation, Enhancing Product Selection
COSTA MESA, CA–(Marketwired – August 16, 2017) – Sipp Industries, Inc. (OTC: SIPC), a multifaceted corporation specializing in technology, manufacturing, and distribution of commercial and consumer products is pleased to announce that the partnership with Wanderport Corporation (OTC: WDRP), initially established to supply Wanderport with premium bulk hemp seed and oil, has advanced with a signed Letter of Intent for a minority stake in Wanderport Corporation.
According to the terms of the agreement, Sipp Industries will be able to diversify and enhance the Company’s reach into the growing marketplace by adding Sapa CoffeeTM product line to its current selection of CBD and Hemp derived products. As interaction advances, Sipp Industries is structured to contribute to Sapa’s retail distribution efforts in Colorado and other states.
Wanderport’s Sapa CoffeeTM 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.
Demand continues to strengthen for Wanderport, with considerable gains in retail order flow both on and offline. Sapa’s Hemp and CBD Coffee blends continue gaining acceptance, fueled by growing momentum from re-occurring sales coupled with broadening dispensary and retail distribution. Orders from Amazon and other online shops have resulted in a steady increase in sales quarter over quarter so far.
“We are very optimistic about the lucrative nature of this reciprocal relationship. We believe that the synergies empower both companies to enhance their respective positions in this evolving and increasingly competitive industry,” stated Ty Cha, CEO of Wanderport Corporation.
Of the initial Major Hemp Brown Ale orders placed by Sipp’s distributor, inventory was rapidly sold out. The latest reorder has been placed by Colorado Craft Distributors and is expected to be fulfilled this week.
Sipp has embarked on discussions with potential brewer and distribution partners in California for the introduction of Major Hemp Brown Ale into that market, and continues the exploration of bottling and canning options for national distribution. Following the successful establishment of 30 locations currently severing Major Hemp Brown Ale in the Denver area, expectations are high.
“This is a great opportunity for both companies to collaborate for a strengthened respective position. The timing is excellent, and we believe that working together we can reach further, achieve more, and do it more efficiently.” stated Sipp Industries Chief Executive Officer, Syman Vong.
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.wanderportstore.com, 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.
Forward Looking Statements:
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team.
Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management’s plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management’s control.
Major Hemp President
Sipp Industries, Inc.