COSTA MESA, Calif., May 01, 2024 (GLOBE NEWSWIRE) -- Sipp Industries, Inc. (OTC: SIPC), a leading player in the cannabis and hemp industries, announces its strategic acquisition of revenue share in Calypso Pharmaceuticals, a Texas-based company renowned for its innovative products and proprietary technology in the cannabis and hemp sectors. The acquisition marks a significant milestone in SIPP Industries' mission to expand its product portfolio and market presence.
Calypso Pharmaceuticals specializes in developing niche products such as beverages, nasal sprays, edibles, topicals, and water-soluble nano-emulsified products tailored for the cannabis and hemp markets. With a focus on enhancing bioavailability, Calypso's proprietary technology achieves an impressive 95% bioavailability, surpassing conventional isolate or distillate-infused products. This breakthrough positions Calypso Pharmaceuticals as a game-changer in product formulation and delivery within the industry.
Calypso Pharmaceuticals operates a robust manufacturing facility in Texas, with plans to launch a new retail storefront in the summer of 2024. Additionally, the company operates a 2,000 square feet manufacturing facility in Oklahoma City, strategically positioned to serve the Oklahoma medical marijuana market and the broader hemp market across the United States and beyond.
"We are thrilled to welcome Calypso Pharmaceuticals into the SIPP Industries family. This acquisition aligns perfectly with our strategic vision to innovate and deliver high-quality, efficacious products to consumers in the rapidly growing cannabis and hemp markets. Calypso's expertise and proprietary technology will significantly enhance our product development capabilities and further strengthen our competitive position," stated Jakob Jorgensen, CEO of SIPP Industries.
"This is an exciting opportunity for Calypso Pharmaceuticals to leverage SIPP Industries' resources and industry leadership to accelerate our growth trajectory. Together, we will continue to push the boundaries of innovation and deliver cutting-edge solutions that address the evolving needs of consumers in the cannabis and hemp sectors," added Gordon Hall, President of Calypso Pharmaceuticals.
The global cannabis market size was valued at $43.7 billion in 2022 and is projected to grow to $444.3 billion by 2030. In 2022, North America held a dominant share of 81.8% of the global market.
The acquisition of revenue share in Calypso Pharmaceuticals underscores SIPP Industries' commitment to driving growth, innovation, and value creation for its shareholders, partners, and customers.
About Sipp Industries, Inc.
Sipp Industries is a multifaceted corporation specializing in manufacturing and distribution of commercial and consumer products within the cannabis industry.
Website: http://www.sippindustries.com
Facebook: https://www.facebook.com/SippIndustries
Twitter: @SippIndustries
About Calypso Pharmaceuticals LLC.
Calypso Pharmaceuticals specializes in developing niche products such as beverages, nasal sprays, edibles, topicals, and water-soluble nano-emulsified products tailored for the cannabis and hemp markets. With a focus on enhancing bioavailability, Calypso's proprietary technology achieves an impressive 95% bioavailability, surpassing conventional isolate or distillate-infused products.
Website: https://calypsopharmaceuticals.com
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.
Contact:
Sipp Industries, Inc.
Investor Relations
ir@sippindustries.com
