Approvals Allow Company to Seek Sales to European Market
LAS VEGAS, NV, Jan. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- One World Pharma Inc. (OTC: OWPC), “OWP,” a U.S. based, fully licensed, pure-play hemp and cannabis ingredient producer in Colombia, has received official approval and registration from Colombia’s Agricultural Institute (ICA) for five (5) of the Company’s proprietary THC genetic strains. This builds upon the Company’s ongoing genetics program and adds to the approvals previously received for three CBD strains in 2020.
This will allow One World Pharma to now apply for both Supplementary THC quota for 2021 and ordinary quota for 2022, which when approved will greatly expand the Company’s potential commercial opportunities serving the global medical market including countries such as Germany, Switzerland, Italy, and Portugal which have legal THC medical use applications.
“It is a tremendous achievement by our team to secure these essential and difficult to obtain approvals,” stated Isiah Thomas, Chief Executive Officer, One World Pharma. “It speaks to the quality of our proprietary, high quality genetic strains and our processes and to our strong relationship with the Colombian government and its agencies.”
“But most importantly, these approvals now unlock access to a vast international market that we’ve been waiting to enter,” added Thomas.
About One World Pharma
Formed in 2017, One World Pharma Inc. (“OWP”) is a fully licensed global supplier of high-quality hemp-derived ingredients for use in the manufacturing of Consumer Packaged Goods (CPGs) and Over-the-Counter (OTC) products. OWP offers a reliable and sustainable supply chain for chemical formulators, food & beverage producers as well as beauty product manufacturers worldwide. The company maintains corporate offices in Las Vegas, NV and Bogota Colombia and a facility in Popayan, Colombia.
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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 Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 29, 2020, 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.