Business
UPDATE - Upper Street Marketing and Partners Complete First 1,200-Acre Hemp Cultivation, $200 Million Harvest Projected
UPDATE - Upper Street Marketing and Partners Complete First 1,200-Acre Hemp Cultivation, $200 Million Harvest Projected.
About this update from Upper Street Marketing, Inc.
[{"type":"text","content":"\nSAN DIEGO, CA, June 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – This is a CLARIFICATION and EXPANSION of the press release dated June 18, 2019. Upper Street Marketing Inc. (OTC Markets: symbol UPPR) and its agricultural partners have fully planted their first hemp crop on 1,200 acres of Colorado farmland and are now less than 16 weeks from being able to start processing the biomass into high-grade cannabidiol (CBD) isolates and distillates.\n Pictures of the 330 acres UPPR has cultivated in Center, Colorado are available at our website: www.upperstreetmarketing.com. The company has also sourced the crop from roughly 900 additional acres owned and operated by Fox Organic Forms, which will be ready for extraction in late September or early October. “As we ramp up to solve the global CBD deficit, the weather and an expert cultivation team were on our side,” said UPPR Chief Executive Officer, Joseph Earle. “Now all we need to do is let Nature translate that effort into a CBD-rich harvest ready for our extraction facilities.” Hemp plants generally require 16 weeks before the flowers are ripe enough to develop oil-bearing seeds. At that point, the mature biomass is ready for harvest, separation and processing. Getting the crop in the ground now puts UPPR on track to meet its extraction start date in early 4Q2019. Since the company owns a 100,000 square-foot facility in Center, Colorado as well as leases a 12,000 square-foot laboratory in San Diego, California, management anticipates that converting the biomass into high-grade CBD isolates and distillates will be a relatively straightforward process. The company has also retained FDA-licensed contract pharmaceutical manufacturer, PrimaPharma Inc., (http://www.primapharma.net) to ensure that all products meet regulatory and commercial FDA cGMP standards. Most recently, UPPR has partnered with ICC Inc. (http://icc-inc.net) to build out the manufacturing systems that will turn industrial quantities of raw hemp into high-grade CBD products to meet parabolically increasing commercial demand. Previously disclosed yield projections suggest that this season’s overall 1,200-acre production profile translates to 45,000 kilograms of high-quality CBD.  As demand for the newly legalized, non-psychoactive chemical compounds formerly locked within the he...