Permission to Export Flower Would be Huge Catalyst for OWP
LAS VEGAS, NV, March 22, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – One World Pharma Inc. (OTC: OWPC), (“OWP” or the “Company”), a U.S. based, fully licensed, pure-play hemp and cannabis ingredient producer in Colombia, is encouraged by a formal recommendation to allow for the international export of dry cannabis flower. In a recently published letter from the Colombian Ministry of Health and Social Protection to the President of Colombia, related to Law 1787 and Decree 613, the Ministry calls for modifications that would allow for the exportation of dry flower.
One World Pharma believes the freedom to sell its dry flower internationally would be of enormous benefit to the Company and the entire industry in Colombia and would significantly increase the Company’s ingredient product offerings in scale, and reduce time to market. Dry flower represents over 50% of the demand in many markets such as the United States, Germany and Australia. Currently, such sales are not allowed.
One World Pharma, through its strategic relationships with small farmers, indigenous groups, FEDECORE, and the Colombian Federation of Regional Advisors, has access to significant acreage for cultivation. Given One World Pharma’s operational strengths, the modifications to Colombia’s laws would make it possible to go from seed to sale within 120 days.
The Company continues to increase its production capacity at its initial farm in Popayan and is currently negotiating contracts that would provide it with its own extraction capabilities.
“Permission to export our flower would indeed be a milestone for One World Pharma,” said Isiah Thomas, CEO of One World Pharma. “We are well-positioned to act on this excellent opportunity with the relationships, technology and genetics to grow the finest flower at scale and leveraging the tremendous equatorial advantages provided by Colombia. This would be a great complement to our existing efforts to sell high quality extracted products under existing law.”
About One World Pharma
Formed in 2017, One World Pharma Inc. (“OWP”) is a fully licensed global supplier of high-quality hemp-derived ingredients for use in the manufacturing of Consumer Packaged Goods (CPGs) and Over-the-Counter (OTC) products. OWP offers a reliable and sustainable supply chain for chemical formulators, food & beverage producers as well as beauty product manufacturers worldwide. The company maintains corporate offices in Las Vegas, NV and Bogota Colombia and a facility in Popayan, Colombia.
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Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the failure to close the remaining funding installments with ISIAH International, the Company’s need for additional funding, the demand for the Company’s products, governmental regulation of the cannabis industry, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, risks related to operating in Colombia, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other risks that may be detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting One World Pharma, please refer to the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 29, 2020, which is available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.