Clear Path to Production
Targeted
LAS VEGAS, NV -- May 29, 2024 -- InvestorsHub NewsWire -- 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
bloper@clearthink.capital
602-785-4120
One World Products (QB) (USOTC:OWPC)
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