Sipp Industries Inc. (OTCMKTS:SIPC) has announced new business opportunities in the cannabis beverage and spirits space. The company, which produces craft hemp-infused beer and other alcoholic and non-alcoholic drinks, has worked with a local distillery to produce a craft spirits line.
Sipp Industries to launch craft spirits line
The craft spirits line under consideration includes gin, whiskey, and vodka. Most importantly, Sipp Industries and its partner will produce the drinks and launch them in phases throughout 2021. Notably, the company will launch its Blue Bear Vodka next month as the first vodka. The Blue Bear Vodka is a craft vodka formulated from cane and registers 40% alcohol by volume, distilled six times. It will be available to customers in 750 ml bottles.
Interestingly, the Blue Bear Vodka label has received approval, and the company will proceed to finalize the packaging with production to follow immediately. Sipp will provide additional information about the vodka and its launch in the coming days. so far, discussions are in progress for distribution, starting with Elite Beverage’s national and the distillery’s local distributors. Consumers can also access vodka in retail and online stores.
Growing CBD beverages market in the US
Sipp Industries is in contact with FDA and the Alcohol Tobacco tax and trade Bureau about its CBD Beer recipe. Approval is pending from both parties until there is regulatory clarity from the government, which could come later this year. Federal cannabis laws have been evolving, and Sipp Industries is in a better position with a quick recipe approval which is a priority for the company.
The company plans to leverage opportunities in the booming cannabis beverage sector, and it is in discussions to create THC and CBD-infused non-alcoholic drinks. Interestingly, these new products don’t need approval and will target medical cannabis dispensaries in the Southwest. CBD beverages are gaining market acceptance, and Molson Coors recently launched CBD drinks in Colorado, and Constellation-backed Canopy Growth will enter the legal California and Illinois cannabis markets later this year.