Upper Street Marketing Completes the Acquisition of CBD Extraction Equipment – Associated Press

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

SAN DIEGO, CA, Dec. 09, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Upper Street Marketing Inc. (OTC Market, trading symbol UPPR) and its wholly-owned subsidiary, Growing Springs Holding Corporation, has announced the completion of its acquiring 5 hemp biomass extraction modules, capable of extracting CBD isolates and distillates from hemp.

In line with their vision to ensure a sustainable supply of raw materials for consumer-facing products, Hemp and CBD firm Upper Street Marketing (OTC: UPPR) recently announced the completion of a key agreement to acquire 5 biomass extraction modules from Portland-based supplier ICC Northwest.

This will build and enhance UPPR’s ability to extract hemp biomass for its 2020 expansion. Each of the 5 modules are expected to supply an additional 20,000 pounds of daily extraction capacity for UPPR’s biomass processing program, raising the overall extraction numbers to 100,000 pounds of hemp biomass each day.

The modules, whose financing has been successfully completed, are set to be delivered to UPPR in April 2020. The event is a significant milestone for the company’s plans to process and extract the 2,000,000 pounds of hemp biomass that it has stockpiled from its 2019 cultivation exercises via strategic Colorado hemp farms, and to process hemp biomass from other hemp growers.

UPPR’s President Joseph Earle said, “This is a key win in his company’s bid to position itself as a transformative force in the bullish CBD market. This is an exciting moment for both us and for the still-nascent CBD industry because of the strategic importance of additional operational volume. The equipment and capacity building will bring us one step closer to realizing Upper Street Marketing’s ambitious vision to usher in an FDA cGMP compliant revolution the CBD consumables market.”

The company reports that additional modules will be in action within 3-4 weeks of delivery. UPPR expects to push up production momentum to 100,000 pounds of hemp-biomass per-day by late May 2020. The capacity will be used to ramp up processing, production, and distribution of both CBD distillate as well as the company’s strategic foray into CBD-related products.

About Upper Street Marketing and CBD

Now 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.

For Further Information Contact: Upper Street Marketing Inc.: Phone: (844) 535-UPPR (8777) Email: investorrelations@upperstreetmarketing.com

Source: https://apnews.com/Globe%20Newswire/37c154698ffc6a6aabf77bebed351658

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