First Collaboration with Global Rapper & Cannabis Icon
Snoop Dogg and Dogg Lbs
LOS
ANGELES, Nov. 9, 2023 /PRNewswire/
-- Ispire Technology Inc. ("Ispire" or the "Company")
(NASDAQ: ISPR), a leader in the development and commercialization
of vaping technology and precision dosing, announced that Aspire
North America, LLC ("Aspire"), one of Ispire's operating
subsidiaries, has entered a five-year exclusive manufacturing and
global distribution agreements (the "Agreement") with Hempacco Co.,
Inc. and its affiliate ("Hempacco"), a manufacturer of hemp-based
alternatives, cannabinoid smokables and rolling papers and
subsidiary of Green Globe International Inc. (OTC: GGII).
Under the Agreement, Aspire has agreed to supply, distribute and
commercialize Hempacco's branded cannabinoid and nicotine vapor
products, namely Dogg Lbs by Snoop Dogg, a rap legend and
entertainment icon. Ispire is a leader in vaping technology,
research and development, design and innovation that is forging the
worldwide industry standard for vaporized products. The Company
offers a complete line of cartridges, disposables, batteries and
dabbing products.
"By leveraging Ispire's expertise in bringing to market
cutting-edge vaping and precision dosing technologies and devices
and Hempacco's leadership position in the herb and hemp-based
alternatives sector, we plan to set new standards for the cannabis
industry and its consumers," said Ispire Technology Co-Chief
Executive Officer Michael Wang. "I
don't know many people who don't recognize or appreciate the global
impact that Snoop Dogg has had – both as an artist and cultural
icon – on the cannabis industry. With our innovation, commitment to
quality and collaboration, we look forward to expanding the reach
of Dogg Lbs while driving sales and visibility across the cannabis
sector."
As part of the Company's international expansion strategy and
pursuant to the Agreement, Ispire will exclusively distribute
vaping products worldwide for Hempacco, using the Company's
existing vapor ecosystem, which currently generates more than
$100 million in revenue each year.
Ispire will also oversee manufacturing and quality control of
Hempacco's vaping hardware.
"Earlier this year, we launched Dogg Lbs hemp-derived CBD and
Delta-9 infused gummies, which were well received," said Hempacco
Chief Executive Officer Sandro
Piancone. "Our collaboration with Ispire will help Dogg Lbs
expand its reach and presence in the e-cigarette and vape market,
which was valued at USD 22.45 Billion
in 2022 and is projected to reach USD 190.00
Billion by 2030, according to Verified Market Research."
About Hempacco
Hempacco Co., Inc. is Disrupting Tobacco™ with its herb and
hemp-based alternatives to nicotine cigarettes and manufacturing
and marketing of herb, spice and cannabinoid smokables and rolling
papers. Hempacco's operating segments include: manufacturing of
smokables, hemp rolling papers and cannabinoid sticks; smokable
technology development; the Real Stuff™ brand of functional
smokables and rolling papers; Cheech and Chong Hemp Cigarettes and
Hemp Hop Smokeables with Rick Ross;
as well as a joint venture with Snoop Dogg and his line of
hemp-derived product line Dogg Lbs. To learn more,
visit www.hempacco.com.
About Ispire Technology Inc.
Ispire is engaged in the research and development, design,
commercialization, sales, marketing, and distribution of branded
e-cigarettes and cannabis vaping products. The Company's operating
subsidiaries own or license more than 200 patents received or filed
globally. Ispire's tobacco products are marketed under the Aspire
brand name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global
distribution network. The Company's cannabis products are marketed
under the Ispire brand name primarily on an original design
manufacturer (ODM) basis to other cannabis vapor companies. Ispire
sells its cannabis vaping hardware only in the U.S., and it
recently commenced its marketing activities in Canada and Europe. For more information,
visit www.ispiretechnology.com or follow Ispire on
Instagram, LinkedIn, Facebook, Twitter and YouTube.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended ("Securities Act") as well as Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995, as amended, that are intended to be
covered by the safe harbor created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe the Company's future plans, strategies and
expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect," "may," "will,"
"should," "would," "could," "seek," "intend," "plan," "goal,"
"project," "estimate," "anticipate," "strategy," "future," "likely"
or other comparable terms, although not all forward-looking
statements contain these identifying words. All statements other
than statements of historical facts included in this press release
regarding the Company's strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Important factors that could cause the Company's actual
results and financial condition to differ materially from those
indicated in the forward-looking statements. Such forward-looking
statements include, but are not limited to, risks and uncertainties
including those regarding: the Company's ability to collect its
accounts receivable in a timely manner, the Company's business
strategies, the ability of the Company to market to the Ispire
ONE™, Ispire ONE™'s success if meeting its goals, the ability of
its customers to derive the anticipated benefits of the Ispire ONE™
and the success of their products on the markets; the Ispire ONE™
proving to be safe, and the risk and uncertainties described in
"Risk Factors," "Management's Discussion and Analysis of Financial
Condition and Results of Operations," "Cautionary Note on
Forward-Looking Statements" and the additional risk described in
Ispire's Annual Report on Form 10-K for the year ended June
30, 2023 and any subsequent filings which Ispire makes with the
U.S. Securities and Exchange Commission. You should not rely upon
forward-looking statements as predictions of future events. The
forward-looking statements made in the press release relate only to
events or information as of the date on which the statements are
made in the press release. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events except as required by law. You should read
this press release with the understanding that our actual future
results may be materially different from what we expect.
Contact:
For more information, kindly contact:
Investor Relations
Sherry Zheng
718.213.7386
ir@ispiretechnology.com
View original
content:https://www.prnewswire.com/news-releases/aspire-north-america-llc-enters-five-year-exclusive-manufacturing-and-global-distribution-agreement-with-hempacco-co-inc-301982369.html
SOURCE Ispire Technology Inc.