Clear Path to Production Targeted
LAS VEGAS, NV – [May 29, 2024] – One World Products, Inc. (the “Company”) (OTCQB: OWPC), a fully-licensed hemp and cannabis producer in Colombia, offers this update to its shareholders as it prepares to kick off production in Colombia.
The Company has successfully secured significant funding of $1.3 million from an existing institutional shareholder, marking a milestone that the Company believes underscores heightened investor confidence and that provides working capital needed for accelerated growth.
The Company’s 10K Annual Report for its year ended December 31, 2023 was filed with the U.S. Securities and Exchange Commission on May 23, 2024. The Company is working diligently with its financial team and advisors in Colombia and expects to file its 10Q Quarterly Report for its period ended March 31, 2024 in the coming weeks.
The Company is also advancing its free-trade zone operations in Bogota, Colombia, having identified a suitable location and has entered into negotiations on a lease agreement. This strategic move is set to culminate in the consolidation of the Colombian operations into the new facility in the fourth quarter of 2024, aligning perfectly with the Company’s operational timelines.
With a clear path to production in sight, One World Products has advanced its sales and marketing efforts across the U.S. and Colombia, heralding a period of significant activity and outreach.
In a pivotal collaboration, One World Products has obtained exclusive rights to produce and distribute Smokiez Edibles’ popular gummies in Colombia. This partnership is expected to significantly enhance the Company’s revenue and market presence, leveraging Smokiez Edibles’ strong brand recognition in the United States, where they are the top-selling edibles in regions like New York, Oklahoma, Missouri, and Arkansas. This proven track record is anticipated to facilitate a successful launch in Colombia, further solidifying their market leadership.
Isiah Thomas, Chairman and CEO of One World Products, expressed his satisfaction with the recent developments, “We are very pleased with the strides we’ve made and the trajectory we’re on. Our team’s hard work is coming to fruition across multiple verticals, and I’m thrilled about the opportunities that lie ahead as we ramp up our operations in Colombia and beyond.”
About One World Products, Inc. (OTCQB: OWPC)
One World Products is a fully licensed hemp and cannabis producer with offices in Las Vegas, Nevada, and offices and operations in Bogota and Popayan, Colombia. One World Products planted its first crop of cannabis in 2018 at its cultivation site in Popayan, Colombia, and began harvesting commercially in the first quarter of 2020.
For more information, please visit https://oneworldproducts.com/. #HempIsTheNewPlastic (TM)
Forward-Looking Statements:
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at www.sec.gov.
All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.
Investor Contact:
ClearThink IR
[email protected]
602-785-4120