$HIPH American Premium Water Corp. (OTC:HIPH) Announces Agreement with California Packaging, Fulfillment and Co-Packaging Partner Establishing CBD Distribution Base
https://www.globenewswire.com/news-release/20...-Base.html
The agreement provides the Company with a distribution foothold in California's $20 billion cannabis market, the largest in the United States
PLAYA VISTA, CA, Aug. 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Premium Water Corporation (OTC: HIPH) (the “Company”) announces that it has an agreement with a stealth packaging, co-packing and fulfillment startup up to be the Company’s west coast operations center. Located in Los Angeles, CA, the Company’s strategic partner is situated in the US's largest and most mature cannabis market, providing the Company a strategic foothold to launch CaliBear (www.calibearlife.com) CBD products into distributors and retailers throughout California and the southwest United States.
Ryan Fishoff, CEO of American Premium Water, commented, “I am excited to announce that the Company has entered into an agreement to have a full fledged packaging, co-packing, and fulfillment partner on the west coast. This is a significant strategic asset for the Company, as it allows us to set up a large presence in California, which compliments the infrastructure that management has built on the east coast with Just Logistics, our distribution partner in the New York/New Jersey metropolitan area. Southern California (and California) is a strategic market for the Company and the brand, as it is its namesake. Management has been engaged in discussions with numerous distributors and retailers in California and the southwest area; this partnership will allow the Company to reach distributors and retailers in a cost effective manner. The Company will now effectively create two fulfillment and distribution centers that will reduce costs, expedite deliveries and increase efficiencies, which should reduce overall COGS. This partnership provides the Company with the infrastructure to successfully launch CaliBear across the country.”
According to MJBiz, California has traditionally been the United States’ largest cannabis market, and is projected to generate over $20 billion in revenue in 2021. According to a Politico report, cannabis beverage sales in the U.S. are expected to hit $421 million this year, more than double 2019 figures, and expected to double again to nearly $1 billion by 2025. Yet the beverage sector is less than 2 percent of the overall market, indicating tremendous growth opportunity and market share to capture.
“Forging these logistic and infrastructure relationships are equally important as establishing sales and distribution relationships. To ensure that CaliBear can scale quickly, the development of these supply chain partners is essential. This is another step in the preparations for the retail and e-commerce launch of CaliBear. We have been full speed ahead on bringing this product to market. Over the next few weeks management looks forward to ramping up our launch plans and preparing our retail and distribution partners for their first deliveries. I will keep investors and shareholders up to date on the delivery dates and activation plans for the brand,” stated Fishoff.
https://www.globenewswire.com/news-release/20...-Base.html
The agreement provides the Company with a distribution foothold in California's $20 billion cannabis market, the largest in the United States
PLAYA VISTA, CA, Aug. 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Premium Water Corporation (OTC: HIPH) (the “Company”) announces that it has an agreement with a stealth packaging, co-packing and fulfillment startup up to be the Company’s west coast operations center. Located in Los Angeles, CA, the Company’s strategic partner is situated in the US's largest and most mature cannabis market, providing the Company a strategic foothold to launch CaliBear (www.calibearlife.com) CBD products into distributors and retailers throughout California and the southwest United States.
Ryan Fishoff, CEO of American Premium Water, commented, “I am excited to announce that the Company has entered into an agreement to have a full fledged packaging, co-packing, and fulfillment partner on the west coast. This is a significant strategic asset for the Company, as it allows us to set up a large presence in California, which compliments the infrastructure that management has built on the east coast with Just Logistics, our distribution partner in the New York/New Jersey metropolitan area. Southern California (and California) is a strategic market for the Company and the brand, as it is its namesake. Management has been engaged in discussions with numerous distributors and retailers in California and the southwest area; this partnership will allow the Company to reach distributors and retailers in a cost effective manner. The Company will now effectively create two fulfillment and distribution centers that will reduce costs, expedite deliveries and increase efficiencies, which should reduce overall COGS. This partnership provides the Company with the infrastructure to successfully launch CaliBear across the country.”
According to MJBiz, California has traditionally been the United States’ largest cannabis market, and is projected to generate over $20 billion in revenue in 2021. According to a Politico report, cannabis beverage sales in the U.S. are expected to hit $421 million this year, more than double 2019 figures, and expected to double again to nearly $1 billion by 2025. Yet the beverage sector is less than 2 percent of the overall market, indicating tremendous growth opportunity and market share to capture.
“Forging these logistic and infrastructure relationships are equally important as establishing sales and distribution relationships. To ensure that CaliBear can scale quickly, the development of these supply chain partners is essential. This is another step in the preparations for the retail and e-commerce launch of CaliBear. We have been full speed ahead on bringing this product to market. Over the next few weeks management looks forward to ramping up our launch plans and preparing our retail and distribution partners for their first deliveries. I will keep investors and shareholders up to date on the delivery dates and activation plans for the brand,” stated Fishoff.
