OWP to Soon Harvest THC, the Psychoactive Ingredient in Cannabis
LAS VEGAS, March 26, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- One World Pharma Inc. (OWPC), “OWP,” a fully licensed pure-play cannabis and hemp ingredient producer in Colombia, announced today that the Company has begun cultivation using its 2020 THC quota as provided by the Ministry of Justice and Law for the Republic of Colombia.
The Company will now begin cultivation of thirteen different strains of psycho-active cannabis in preparation for long term production and worldwide distribution. This means that OWP has started to cultivate its thirteen strains which it believes is the most strains afforded to any organization in Colombia. Most companies are typically allowed 5-6 strains.
The Colombian government must characterize and register each cannabis cultivar before it allows for mass production and distribution, making this the final step that OWP must take as it moves forward to monetizing THC cannabis.
“Tremendously pleased to be in this phase of opportunity for One World Pharma,” stated Brian Moore, President, One World Pharma. “We believe in the tremendous potential of commercializing THC cannabis and now, the absolute next steps will be harvest and sale.”
“These are exciting, long-awaited times for our Company,” added Moore.
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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.