Acquires Colombian Cannabis Operator Preparing for Expansion and First Harvest
LAS VEGAS, NV, Feb. 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – One World Pharma Inc. (OTC Pink: OWPC), is pleased to announce that it has acquired One World Pharma SAS, a fully licensed cannabis cultivator and manufacturer based in Popayan, Colombia, in a merger transaction that closed on February 21, 2019. Under the terms of the merger agreement, the stockholders of OWP Ventures, Inc., which is the parent company of One World Pharma SAS, will be issued an aggregate of 39,475,398 shares of common stock of One World Pharma, Inc. After giving effect to the merger, One World Pharma, Inc. has 39,922,898 shares of common stock issued and outstanding.
Colombia is considered by many to be an ideal growing location for cannabis, hemp and related products. The nation’s equatorial climate, pro-cannabis government regulations, and talented local population provide the core ingredients to produce high crop yields and quality product for export at a low cost, allowing for significant margin regardless of changing market conditions.
One World Pharma SAS has been developing relationships and infrastructure in Colombia for two years, working hand in hand with the indigenous population and government officials. The company holds all four key government issued licenses for the cultivation of psychoactive high THC, cultivation of non-psychoactive low THC, manufacture of cannabis derivatives, and seed use.
“One World Pharma has exceeded our expectations as a thriving, rapidly expanding licensed Colombian medical cannabis producer,” stated Craig Ellins, CEO, One World Pharma Inc. “The Company is ideally situated to capitalize on the Colombian opportunity with significant production capacity and registered strains. We will be utilizing the entire plant in a synergistic marriage of U.S. based cultivation and manufacturing technology and the hospitable cultivation environment that Colombia provides. We are committed to building One World Pharma into a key player in the international supply chain, as global branded consumer products, beverage and pharmaceutical companies call for a truly industrial level of supply.”
“We look forward to sharing the results of our first harvest,” added Ellins.
About One World Pharma
One World Pharma Inc. is the U.S. parent company of One World Pharma SAS, a licensed cannabis and hemp producer with offices and operations in Bogota and Popayan, Colombia. One World Pharma planted its first crop of cannabis in 2018 at its cultivation site in Popayan, Colombia, which it expects to begin harvesting in the first quarter of 2019. The Company intends to supply the highest quality cannabis and hemp derivatives in crude oil, distillate and isolate forms for industrial scale production to serve global cannabis demand. Its products will be produced and tested to GMP and ISO standards.
Investors are advised that from time to time the Company may provide information about its operations through its website at www.oneworldpharma.com.
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 Current Report on 8-K filed with the Securities and Exchange Commission on February 25, 2019, 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.