LOS ANGELES, July 26, 2018 (GLOBE NEWSWIRE) -- Upper Street Marketing, Inc. (OTC:UPPR) (“Upper Street”) and Growing Springs Holdings have announced a Letter of Intent agreement to merge. The merger is anticipated to complete September 15, 2018, and is subject to Upper Street Marketing raising $500,000 of working capital. The letter of intent calls for a restructuring of the ownership of Upper Street whereby the shareholders of Growing Springs will own a controlling percentage of the shares of Upper Street when the merger completes.
Concurrent with the merger of Upper Street and Growing Springs, Growing Springs intends to acquire a Colorado cannabis growing business that has approximately $1 million in revenues.
Growing Springs Holdings (GSHI) via its wholly owned subsidiary, Growing Springs LLC (GSLLC), provides exclusive liquid conversion water technology to various cannabis and hemp cultivators in the US and Canada. Additionally, Growing Springs Services Group (GSSG) acquires and operates cannabis cultivation, dispensary and related manufacturing operations.
Growing Springs Services Group is under contract to acquire five cannabis licenses. With this acquisition, GSSG will own and operate two cannabis dispensaries and two cannabis cultivation operations that currently are growing approximately 1,000 cannabis plants with plans to expand that to approximately 8,000 cannabis plants following the closing. GSSG will also operate a new MIPS license (product manufacturing operation) along with this acquisition.
Growing Springs Holdings sees continued robust growth for the company in multiple cannabis, hemp and cannabis agricultural based markets in the US and Canada. Joseph Earle, Growing Springs Holdings Chief Operating officer (COO) states that "the merger with Upper Street Marketing Inc., will allow Growing Springs Holding the ability to finance significant business growth in its target markets." Earle goes on to say, “Growing Springs Holdings, via its subsidiaries, plans to install a significant number of LCT water systems over the coming 12 – 18 months with new customers as well as raise its own cultivation and distribution networks revenue as many as ten times current levels.”
Growing Springs' website is www.growingsprings.com.
Upper Street Marketing Inc. has terminated all other merger and acquisition plans.
Contact: For more information about Upper Street Marketing, please call: Toll-Free: (844) 535-UPPR (8777) Email: investorrelations@upperstreetmarketing.com
About Upper Street Marketing
Upper Street Marketing combines decades of tactical branding experience with research-based intelligence to uncover, invest in -- and expedite the growth of -- companies displaying outstanding management and ROI potential. Upper Street Marketing is committed to its shareholders first and ascribes to a business ideology promoting transparency, visibility, growth and value.
Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the Company or its management, identify forward-looking statements. These statements are based on current expectations, estimates, and projections about the Company's business, based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors. Such statements could be affected by risks and uncertainties related to: (i) our ability to integrate Ennoble Progressive Beverage Distribution Inc. into the Company's operations, (ii) product demand, market, and customer acceptance of the Company's products, (iii) the Company's ability to obtain financing to expand our operations, (iv) the Company's ability to attract qualified sales representatives, (v) competition, pricing and development difficulties, (vi) the Company's ability to conduct the business if there are changes in laws, regulations, or government policies related to the Company's products, (vii) the Company's ability to conduct operations if it faces product recalls, and (viii) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.