Upper Street Marketing Announces New Facility for CBD Extraction and Plan for CBD Products
San Diego, California--(Newsfile Corp. - May 10, 2019) - Upper Street Marketing Inc. (OTC PINK: UPPR) and its wholly-owned subsidiary, Growing Springs Holding Corporation, are pleased to announce that we have entered into a five year lease, with five year renewals, with Cal-Sorrento Realty, San Diego, California, for a state of the art 12,000 square foot laboratory and manufacturing facility. The facility is licensed for CBD extraction.
The laboratory and manufacturing facility location is adjacent to Primapharma Inc., (PPI) a collaborative partner with UPPR (http://primapharma.net). UPPR has previously established a long-term agreement with PPI, an FDA licensed, cGMP pharmaceutical manufacturer. UPPR along with its wholly owned subsidiary, Growing Springs Holdings Corporation (GSHC) intends to manufacture and develop fully FDA cGMP standards for the production of various CBD distillates and isolates for commercial applications as well as research and clinical studies.
PPI will provide technical expertise, staffing and other resources necessary to complete facilities and the necessary documentation and processes for an FDA licensed facility devoted to CBD extracts derived from Hemp. UPPR will provide the necessary funding for dedicated staff, the equipment and facilities. “We are particularly excited about this agreement with PPI. This is a world class facility! The agreement further addresses the need for FDA manufacturing and production standards needed in the industrial hemp CBD industry,” said Joseph Earle, UPPR President and CEO.
Wholesale CBD isolate and distillate are currently selling for approximately $6,000 to over $10,000 per kilogram, depending on volume. With our proximity to Primapharma on the campus, and with Primapharma being a licensed FDA manufacturer and laboratory, UPPR can apply to extended FDA licensing to the new facility.
UPPR seeks to be a world class wholesale provider to the hyper-growth CBD markets of cosmetics, sports drinks, alcohol and non-alcohol beverages, pet foods, food infused edibles, and many other products soon to incorporate CBD extracts.
Joseph Earle, Upper Street CEO, said, “Having this facility opens up revenue opportunities in many areas for UPPR. We plan on prioritizing opportunities to focus on high volume high margin wholesale customers.”
Further to our news release of April 25, 2019, below is a corporate update.
We embarked on an ambitious plan in 2018 to become the first and likely the largest cGMP CBD producer and marketing company in the United States and a major player in the global market for what we see as the most significant new market in many years.
So what is this significant new market and what is the potential size of this market?
In a recent Fortune Magazine article, dated February 25th, 2019 they quoted a new analysis by Cowen & Co, nearly 7% of Americans are already using cannabidiol (CBD), placing the potential for the much hyped cannabis compound at $35 Billion by 2025.
They went on to say that they “conservatively” see CBD use growing to 10% of U.S. adults or 25 million consumers by 2025.
To date CBD’s are promoted as an effective treatment for everything from arthritis to insomnia. The only FDA approved remedy is for two rare forms of childhood epilepsy.
UPPR via its subsidiaries intends to be at the forefront of this change. UPPR is a vertically integrated “seed to consumer” cultivator and manufacturer FDA compliant CBD products.
UPPR intends to be an industry leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace.
Many industry analysts expect additional scrutiny of the CBD industry. UPPR intends to comply with all FDA standards regulations for CBDs. “UPPR intends to lead the industry,” quotes Joseph Earle, CEO. Earle goes on to say that “Further FDA scrutiny is certainly bound to happen.”
We at Upper Street/Growing Springs are at the forefront of that trend, and back it up with our strategic partnership with Primapharma (www.primapharma.net) which we announced on January 22, 2019, to develop fully cGMP CBD oils and isolate, as well as research and clinical studies.
In order to be a “from seed to consumer” CBD company we grow our own hemp, extract the high quality CBD from our own hemp and with our partnership with Primapharma are developing cGMP products for consumers.
This is how we are unique and how we are attacking this large and rapidly growing market that is estimated to be a $16 Billion market within the next seven years.
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.
For Further Information Contact:
Upper Street Marketing Inc.: .
Phone: (844) 535-UPPR (8777)