Company Enters Revenue Phase with Multiple Seed Sale Agreements
LAS VEGAS, NV, June 25, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – One World Pharma Inc. (OTC: OWPC), “OWP,” a U.S. based, fully licensed, pure-play hemp and cannabis ingredient producer in Colombia, is pleased to announce that the Company has commenced the selling of its characterized and registered seeds in Colombia.
One World Pharma has executed seed purchase agreements with three different Colombian growers and has begun shipments of seeds already. The agreements represent sales to entities growing both outdoor and in controlled environments.
One World Pharma previously announced that the Colombian Agricultural Institute (ICA) has approved the results of the seed characterization tests conducted by OWP of three non-psychoactive genetics in two sub-regions of the country. The approval established OWP as one of the few legal sellers of characterized hemp/CBD seeds for the Cauca and the Andina regions of Colombia, inclusive of greater Bogota and its surroundings. Additionally, One World Pharma is now allowed to sell its seeds in international markets.
“While just the beginning of our entry into the revenue phase for One World Pharma, these agreements are a significant benchmark in the execution of our business plan,” stated Isiah Thomas, CEO and Vice-Chairman of One World Pharma. “Our first seed sale transactions affirm our trusted, licensed position in the Colombian marketplace and pave the way for future agreements and revenue.”
“We are intent on leveraging our position and quickly moving forward to continue our growth and expansion,” added Thomas. “The scale of our production and the expansion of our ingredient portfolio for commercial sale are also accelerating.”
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 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.