Business
Upper Street Marketing Announces New Facility for CBD Extraction and Plan for CBD Products
Upper Street Marketing Announces New Facility for CBD Extraction and Plan for CBD Products.
About this update from Upper Street Marketing, Inc.
[{"type":"text","content":"\nSan Diego, CA, May 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Upper Street Marketing Inc. (OTC Markets: symbol 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.\n 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 opportuni...