Green Top Technology, Inc. a Subsidiary of Universal Power Industry Corporation, Has Obtained A License to Grow and Process Hemp
Mr. Joseph Sanchez, President of UPIN's recently-formed Green Top Technology subsidiary stated, "The receipt of this coveted license is a key development in our strategy to decisively enter the high-growth CBD oil market.
NEW YORK, June 18, 2019 /PRNewswire/ -- Green Top Technology, Inc. a subsidiary of Universal Power Industry Corporation (OTC: UPIN) a diversified holding company engaged in the apparel, technology, and real estate sectors, today announced that they have obtained a license from the State of Maine to grow and process for sale up to 30 acres of industrial hemp on the company's Windham property.
The company had originally slated the property for a development of new homes, after some research into the burgeoning hemp cultivation business, the company deemed that the property would offer a better ROI than the one-time sales of new homes.
Mr. Joseph Sanchez, President of UPIN's recently-formed Green Top Technology subsidiary stated, "The receipt of this coveted license is a key development in our strategy to decisively enter the high-growth CBD oil market. CBD oil (cannabidiol) is expected to grow nearly 500% this year alone. Consumers are looking for high-quality 'natural and healthy' CBD oil products, and we were attracted by the careful regulatory scheme in Maine as well as the State's long tradition of being a center for healthful products. Our 30-acre site approval positions Universal Power's subsidiary as one of the largest hemp growers in the State of Maine."
Additional updates will be provided throughout the company's social media pages Twitter, Facebook, OTCMarkets news and mainstream media services. Additional information regarding the company's business and objectives going forward can be obtained at www.upinholdings.com or by email at [email protected].
Statements contained in this release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results, and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact Information:
Universal Power Industry Corporation
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SOURCE Universal Power Industry Corporation
