One World Pharma Announces Planned Launch of Commodity-Based Cannabis Futures Program Designed to Provide Ingredients to Product Manufacturers
LAS VEGAS, Oct. 31, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- One World Pharma Inc. (OWPC), “OWP,” a fully licensed pure-play cannabis and hemp ingredient producer in Colombia, today announced the upcoming launch of the cannabis industry’s first ‘Cannabis Futures’ program at their growing operations in Colombia. OWP’s program is designed to support and fuel projected global cannabis industry growth by allowing manufacturers to fix their price in advance for cannabis and hemp derived ingredients produced by OWP at space specifically allocated to each specific manufacturer at OWP’s cultivation facilities in Colombia. The commoditized approach to sourcing hemp and cannabis ingredients anticipates and recognizes the natural maturity of the legal cannabis market and offers manufacturers of consumer-packaged goods (CPG) an easy way to enter the cannabis products market with a consistent supply of ingredients and predictable pricing.
With the cannabis industry predicted to continue to rapidly expand, scalability is an imperative in cannabis. One World Pharma believes that the future of cannabis is as a commodity, similar to coffee beans or orange juice where ideal ingredients are grown and sold to major consumer brands. While other cannabis companies have focused on being vertical plays spanning from seed to customer-facing dispensaries, One World Pharma is a pure-play cannabis business focused on one thing- supplying high quality hemp and cannabis derived ingredients to consumer brands. The upcoming launch of its Cannabis Futures program will provide these brands with predictable pricing for consistent, high-quality cannabis ingredients that allow them to keep their retail product offering consistent both in the deliverable and pricing.
“At its core, One World Pharma isn’t just a cannabis company, we’re an ingredients company,” said Chief Executive Officer, Craig Ellins. “Cannabis is now a commodity just like coffee or soybeans. We’re not interested in competing with the big players getting into branded cannabis products. Instead, we want to supply and enable them. Our Cannabis Futures program will provide major beverage companies, foods companies, cosmetic companies and any other enterprise looking to combine cannabis-based ingredients with their product offering with a streamlined path to enter the cannabis market.”
The Futures program will allow One World Pharma’s customers to commit to purchase a fixed amount of hemp and cannabis derived ingredients that will be grown and processed specifically to their unique requirements on land exclusively dedicated to them. This will allow One World Pharma to offer these customers a predetermined, consistent price for this future product. Customers will be able to lock in stable pricing while One World Pharma will be able to more accurately predict its own recurring revenue and optimize its growing operations.
In the future, One World Pharma believes that this model could lead to the development of a global cannabis commodities exchange. “We want to be part of creating the long-term global financial and supply chain structures for the cannabis industry,” said Ellins. “Partnership is one of our core values and the foundation of our socially responsible practices. We believe that strong infrastructure and systems will benefit the entire industry.”
One World Pharma’s socially responsible partnerships with indigenous communities and local farmers in Colombia will offer scalability to support its Cannabis Futures program and service the needs of large manufacturers, while blending ancestral techniques with state-of-the-art technology in one of the most ideal cannabis-growing locations in the world.
Please note that from time to time the Company may post new information at its website: www.OneWorldPharma.com
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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-KA 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.