SAN DIEGO, CA, March 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Upper Street Marketing Inc. (OTC:UPPR) Upper Street Marketing and its wholly owned subsidiary, Growing Springs Holdings Corporation has announced that in conjunction with our cultivation partner, Genji Organics, of Center Colorado, that it has completed approximately 400 liters of CBD raw crude extract.
The wholesale market value of the extract is approximately $825,000.
Upper Street will continue various ventures as it executes its plans to cultivate 360 acres of industrial hemp in Colorado this year, and to extract CBD raw crude and to produce CBD isolates and distillates. Upper Street plans on expanding its cultivation to as many as 2,000 acres for crop year 2020.
“This production is a significant milestone for us, as it shows that we can produce significant amounts of CBD raw crude with various partners, although our business model of vertical integration will ultimately see us extracting large quantities of our own bio-mass,” said Joseph Earle, Upper Street Marketing President and CEO.
Earle adds that, “Upper Street Marketing will provide cGMP pharmaceutical grade standards with its CBD manufacturing partner, PrimaPharm, Inc. of San Diego, CA., and UPPR will bring these standards to a very fragmented marketplace that frequently lacks FDA focused standards.”
Upper Street Marketing Inc. (OTC: UPPR) is a publicly traded Oklahoma Corporation that specializes in acquisition, finance and management of hemp cultivation, extraction and CBD manufacturing in Colorado and other US States. UPPR is uniquely serving its target markets with cGMP grade cultivation and manufacturing standards. The rapidly expanding hemp, CBD and cannabis markets in the North American and world markets is a perfect opportunity for UPPR and Growing Springs Holdings Corporation.
UPPR and Growing Springs Holdings Corporation are ideally positioned to capitalize on recent regulatory changes that dramatically enhance opportunities in hemp production and CBD extraction as well as FDA concerns regarding use of CBD’s in the marketplace.
Growing Springs Holdings Corporation website is www.growingspringsholdings.com.
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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 execute the Company's business plans with the uncertainty of agricultural crops (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.