Business
Upper Street Marketing Enters into Agreement for Processing its Hemp Biomass – Approximately $13.2 Million of Revenues Projected
Upper Street Marketing Enters into Agreement for Processing its Hemp Biomass – Approximately $13.2 Million of Revenues Projected.
About this update from Upper Street Marketing, Inc.
[{"type":"text","content":"February 19, 2020San Diego, CA, February 19, 2020 -- Upper Street Marketing Inc. (OTC Markets: symbol UPPR) and its wholly owned subsidiary Growing Springs Holding Corp. have entered into an agreement to sell approximately 1.2 million pounds of CBD based hemp biomass to Victory Americas Group, LLC (“Victory”) who will in turn process the hemp biomass into T-Free CBD Distillate and pay UPPR from the sale of the distillate.UPPR will receive approximately $13,200,000 from the sale of the distillate from Victory.Victory expects to start processing the biomass within the next three weeks and to complete the processing within 30 days from starting.This agreement forms part of the asset sale from Upper Street previously disclosed in our news release dated February 12, 2020. “This deal will provide UPPR with significant revenues and cash to advance UPPR’s business,” Joseph Earle, UPPR CEO explains.For Further Information Contact:Upper Street Marketing Inc.: .Phone: (844) 535-UPPR (8777) Email [email protected] About Upper Street Marketing and CBDNow fully legal as a non-psychoactive product of industrial hemp, CBD has been promoted as an effective treatment for everything from arthritis to insomnia. To date, the only FDA-approved uses are for two rare forms of childhood epilepsy. With one of the only integrated “seed to consumer” platforms for participating in all phases of the industry from crop to value-added commercial and clinical product development, UPPR intends to be a leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace.Cautionary Language Concerning Forward-Looking StatementsStatements in this press release may be \"forward-looking statements\" within the meaning of the P...