Upper Street Marketing Announces Closing of Transaction in Dynamic Canadian Market
San Diego, California--(Newsfile Corp. - May 16, 2019) - UPPR (OTC Pink: UPPR) is pleased to announce the closing of its recently announced acquisition of twenty percent of Catch Capital Partners Inc. UPPR has issued five million shares to the Principals of Catch Capital Partners. Catch Capital Partners is a Canadian company actively advancing projects in the outdoor cannabis and hemp space.
Joseph Earle, CEO of UPPR, stated, "We are very pleased to complete this strategic investment. The Catch Capital Partners team is uniquely positioned to capitalize on the dramatic shortfall in supply of recreational cannabis in Canada. Further, they have an innovative plan to create cooperative pharmaceutical grade hemp production in the Canadian market. We believe last week's significant announcement regarding Canadian licensing will benefit Catch Capital, and UPPR shareholders."
Catch Capital CEO Jeff Wareham added, "Last week was a game changer for both cannabis and hemp in Canada and for Catch Capital Partners. This is a huge advantage for Catch Partners and likely will advance our plans quickly. The licensing process for these two critical high value crops has been hindered by an apparently huge volume of applications, where paperwork may be in order, but there exists little chance of raising the necessary capital to complete the projects. Health Canada has made what appears to be a wise decision, choosing to focus on real projects, not unfunded dreams. Further, we feel this will free up limited Health Canada resources to respond to the rapidly evolving global market for hemp and cannabis products. The US Farm Bill has fundamentally changed the hemp market, and Canadians need to catch up. Our new partnership with UPPR ensures we are well positioned to grow our business in this dynamic environment."
Further to our news release of April 25, 2019, below is a corporate update.
UPPR 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.
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. Fortune goes 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 is promoted as an effective treatment for everything from arthritis to insomnia, the only clinically proven remedies for two rare forms of childhood epilepsy. Upper Street Marketing Inc. (OTC Pink: UPPR) plans to be at the forefront of this change. UPPR intends to be one of the very few integrated "seed to consumer" hemp and CBD companies in the world.
FDA (the U.S. Food and Drug Administration) and that capability to meet FDA rules and regulations for CBDs puts these standards at the forefront of what is emerging in the governmental oversight requirements of the CBD industry. As science confirms that CBDs are effective treatment for a list of maladies and conditions for humans and pets, very large numbers of consumers are going to demand that the products they buy be properly regulated and backed up by solid science, not by product mislabeling or misrepresentations.
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 an integrated "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.
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)
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