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The partnership with Growpacker would allow the Company to get large scale production and distribution for beverages utilizing its proprietary CBD and THC formulations
PLAYA VISTA, Calif., Dec. 10, 2018 (GLOBE NEWSWIRE) -- American Premium Water Corporation (HIPH) announces that it has entered into a letter of intent with the California based subsidiary of Growpacker, Inc, (https://www.growpacker.com/) which offers local and international brands key services, such as manufacturing, co-packing, and distribution for THC & CBD infused products. Growpacker will provide these services for the Company; internal LALPINA CBD branded products as well as manufacturing and co-packing for white label and co-branded products utilizing the Company’s proprietary CBD and THC formulations.
American Premium CEO and Interim Chairman Ryan Fishoff, commented, “I am very excited to announce the Company’s agreement with Growpacker. This is a very big strategic agreement for the Company that provides us with large scale production capacity to fulfill the burgeoning demand for our product. Growpacker is a first-class company that has tremendous best of breed partners in the space...”
Growpacker Inc. is a Canadian based company, which through its American interest in GP Holdings LLC, is engaged in expanding the ancillary side of the California cannabis industry. Growpacker recently announced a partnership agreement with InterContinental Beverage Capital ("IBC"), a New York-based advisory and merchant banking firm whose founders and partners have held top executive positions with multiple beverage companies, including MillerCoors, Coca-Cola, Red Bull, Diageo, and Cadbury Schweppes. Growpacker also recently named Keith Villa as a strategic advisor to the company. Mr. Villa created America’s number one selling craft beer through Blue Moon Brewing Company in 1995 as an operating unit of Coors Brewing Company, which later became MillerCoors.
The partnership between the Company and Growpacker gives immediate access to the California cannabis market. BDS Analytics estimates that sales of cannabis related products could hit $3.7 billion by the end of 2018, and is predicting that number will reach $5.1 billion by 2019. Analysts at Cowen & Co. believe the US legal cannabis industry could reach $50 billion by 2026, with California accounting for about $25 billion of that market, according to CFN Media Group. The Company will be well positioned to access the country’s largest cannabis market as Growpacker has many cannabis industry relationships through its strategic partners in the state that will give the Company direct access to this $5 billion market.
“This partnership gives us access to the world’s largest cannabis market. I believe that California alone will surpass Canada as far as consumption and revenue for cannabis. The Company now has the ability and the pipeline to distribute its THC infused beverage. Growpacker’s manufacturing capability will allow us to become the first to market with the nano-infused THC beverage which will give the Company a strategic advantage over the competition. Growpacker’s strategic partners also give us weight to help setup strategic distribution partnerships across the country and accelerate our sales plan. I see a seismic shift in the beverage industry as soft drink sales continue to plummet due to a more health conscious consumer demanding healthier beverages. LALPINA CBD is well positioned to fill the void, and our partners at Growpacker will be instrumental in executing,” Concluded Mr. Fishoff.
About American Premium Water Corp.
American Premium Water (HIPH) is a diversified luxury consumer products company focused on businesses in the health and beauty and biotech sectors. The company is focused on harnessing the powers of hydrogen and Nano technologies paired with cannabidiol (CBD) to treat health disorders and enhance quality of life. This business model aims to market emerging fashion brands by leveraging classic retail partners and incorporating disruptive blockchain technologies to expand the retail footprint. The company’s portfolio includes the LALPINA Hydro and LALPINA Hydro CBD brands (www.LalpinaInc.com), Gents, Worthy, and blockchain platform FashionCoinX (www.FashionCoinX.com).
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors of American Premium Water Corporation
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