Upper Street Marketing Corporate Update and Mission Statement
SAN DIEGO, CA, April 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Upper Street Marketing Inc. (OTC: UPPR) and its wholly-owned subsidiary, Growing Springs Holding Corporation, are pleased to share the following corporate update and Mission Statement.
Although the passing of the Farm Bill in December 2018 has dramatically boosted the planned production and cultivation of industrial hemp in the US, the “status quo” of producers of CBD products, do largely NOT adhere to the Food and Drug Administration (FDA) standards. The FDA oversees the sales and distribution CBD products in the US.
The average hemp farmer in the US farms 37 acres of industrial hemp. The entire production of CBD isolate in 2018 was under 50,000 kilos. Based on current projections by Fortune Magazine, and others, CBD sales will hit $25 billion by 2022. The wholesale CBD demand in the US and Canada will call for a 100X of current production to as many as 3,500,000 kilos of CBD isolate by 2023. The fragmented and inefficient industrial hemp and CBD industry is largely not ready for this expansion.
Additionally, the FDA is stepping up intense scrutiny of all stages of the CBD industry and has recently sent “Cease and Desist” letters to a number of large producers and distributors. Producers and distributors that do not meet FDA standards, will risk governmental and regulatory shut-down. UPPR will meet and in fact exceed these regulatory and manufacturing standards and will lead the industry.
UPPR – Growing Springs Holdings Corporation (OTC: UPPR) offer significant advantages over determined competitors. Those advantages include, but are not limited to the following:
- UPPR along with its pharmaceutical manufacturing partner, PrimaPharm Inc., (www.primapharm.net) apply FDA cGMP standards to all phases of industrial hemp cultivation and CBD extraction. These standards apply to genetics, certified organic soil used in cultivation, organic nutrients and other specialty chemicals applied to cultivation, cultivation procedures, harvest, processing and extraction of CBD isolate and/or distillate needed for significant sales channels. UPPR applies active pharmaceutical ingredient (API) track and trace to all phases of operations.
- UPPR utilizes mass cultivation in excess of 360 acres for 2019and larger cultivation for 2020 and beyond in order to accumulate the bio-mass needed for mass extraction of pharmaceutical grade wholesale CBD products. UPPR intends to extract as many as 150,000 kilos of CBD Isolate annually by 2021.
- UPPR uses proprietary hemp genetics, organic certified soil and specialty nutrients needed to meet its aggressive cGMP standards and pharmaceutical standards required by large international buyers and distributors.
- UPPR has strategically placed key facilities in geographic areas needed to meet sales channel demands. UPPR owns and operates a 100,000 square foot CBD manufacturing and processing facility in Center, Colorado. UPPR also operates a 13,000 extraction and laboratory facility on an FDA licensed facility in San Diego, California.
- UPPR will apply FDA cGMP standards to collaborations, joint venture partners as well as strategic acquisitions needed to expand its operations and manufacturing over the next 36 months.
UPPR is well positioned to be a large wholesale CBD producer and industry leader for 2019 and beyond.
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 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.