Business
American Premium Water Corp. (HIPH) Announces California Co-Packing Partnership with Growpacker
American Premium Water Corp. (HIPH) Announces California Co-Packing Partnership with Growpacker.
About this update from American Premium Water Corporation
[{"type":"text","content":"\nPLAYA VISTA, Calif., Dec. 10, 2018 (GLOBE NEWSWIRE) -- American Premium Water Corporation (OTC: 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.\n 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 la...