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:
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
