One World Pharma and Colombia's Misak Tribe Enter into Cultivation and Sale Agreement
Agreement is OWP’s Second Significant Exclusive Partnership with Indigenous Peoples
LAS VEGAS, NV, Oct. 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- One World Pharma Inc. (OTC: OWPC), “OWP,” a fully licensed cannabis and hemp producer in Colombia, is pleased to announce that it has agreed to partner with Colombia’s Misak tribe for the cultivation, purchase and sale of non-psychoactive cannabis and hemp for medicinal and scientific research uses. The exclusive agreement is consistent with One World Pharma’s stated mission to maximize the unique Colombian cannabis opportunity via a blend of shared expertise from cultivation to international sale. It is the second large-scale deal with Colombian indigenous people for One World Pharma.
The Misak, who hold government issued licenses for cultivation, are renowned for their agricultural expertise. One World Pharma will seek to amplify this acumen with a full spectrum of modern cannabis cultivation technology. Under the agreement, OWP will supply the Misak people with registered genetics as either seeds or plantlets, advise on best practices in cultivation, and purchase their crops.
Post-harvest, One World Pharma intends to process the biomass provided under the agreement at its state-of-the-art extraction and refinement facility for international export. Cultivation will take place on 40 acres of cannabis ready fields. Because Colombian medical cannabis laws do not allow for the sale of cannabis flower, OWP will be required to process the harvest into crude, distillate and/or isolate for export.
“We are extremely pleased to expand our operations and most importantly, our relationships, in Colombia,” stated Craig Ellins, CEO of One World Pharma. “The Misak are a tremendous people known for their work ethic and accomplishments in agriculture. It is a genuine privilege to work alongside them and to provide them with cannabis growing technology that we hope will be used for generations.”
About One World Pharma
One World Pharma Inc. is the U.S. parent company of One World Pharma S.A.S, a fully 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, for research purposes and expects to begin harvesting commercially in the second quarter of 2020. The company intends to supply the highest quality cannabis and hemp derivatives in crude oil, distillate and isolate forms with industrial scale production to serve global cannabis demand. Its products will be produced and tested to GMP standards.
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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 Current Report on 8-K/A filed with the Securities and Exchange Commission on July 12, 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.
Released October 24, 2019