Business
Upper Street Marketing Has Acquired Key Facility
Upper Street Marketing Has Acquired Key Facility.
About this update from Upper Street Marketing, Inc.
[{"type":"text","content":"\nSan Diego, CA, May 03, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Upper Street Marketing Inc. (OTC Markets: symbol UPPR, website http://upperstreetmarketing.com) and its wholly-owned subsidiary, Growing Springs Holding Corporation, are pleased to announce that it has acquired a 95,000 square foot facility in Center, Colorado for the processing of hemp and extraction of CBD.\n The price paid for the building was $1,100,000. “This facility is a center-post for UPPR and its wholly owned subsidiary Growing Springs as it cultivates over 300 acres of organic industrial hemp in Colorado and extracts cGMP (Current Good Manufacturing Practice) CBD isolates and distillates,” said Joseph Earle, Upper Street CEO. 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 news 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. So far, although CBD is promoted as an effective treatment for everything from arthritis to insomnia, the only clinically proven remedies are for two rare forms of childhood epilepsy. We see this changing and UPPR, through its wholly owned subsidiary, is at the forefront of this change.  Why do we say this? We are one of the very few “seed to consumer” hemp and CBD companies in the world.  And we are most certainly either the only or one of the very few companies who have cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace.  What is cGMP and why is that so valuable and important? Because cGMP regulations are enforced by the FDA (the U.S. Food and Drug Administration) and that capability to meet FDA rules and regulations for CBDs puts us at the foref...