SIPP International Industries Inc. (PINK: SIPN), a post development-stage company planning to commence marketing of its products and services, has seen a sharp rise in its shares in trading today.
SIPN shares rose to an intra-day high of $0.06, and at last check, the stock was trading 62% higher at $0.0405 on above average volume of 5 million. SIPN shares have gained more than 120% in the last three trading sessions.
The rally in SIPN shares was sparked after the company announced the receipt of a Federal Vendor number to start selling its beverage, medical products and Z-CAC Controlled Atmosphere Container to U.S. government agencies.
The Federal Vendor number will allow SIPN to advertise and brand its products and services directly with city, state and federal purchasing agencies.
Greg Pearson, Chairman of SIPP International Industries, said that SIPN’s main focus will be to concentrate on the food service needs of the armed forces, federal bureau of prisons, state and county detention centers and government buildings that have self contained cafeterias for their employees.
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