One World Pharma Announces First Sale of Cuttings in Colombia
On April 26, 2021, One World Pharma (OTC: OWPC) announced its first sales of cannabis cuttings following approval from Instituto Colombiano Agropecuario (ICA). The company can now sell genetically superior plantlets, enhancing customer options by reducing germination risks. Currently, OWP has a production capacity of 9,000 cuttings per 20-day cycle, with plans to expand to 18,000 by year-end. This initiative complements existing revenue streams from seed and oil sales and strengthens OWP’s market position in cannabis genetics.
- Successful approval from ICA to sell cannabis cuttings.
- Expansion of production capacity from 9,000 to 18,000 cuttings per cycle by year-end.
- Diversification of revenue streams through cuttings, seeds, and oil sales.
- None.
LAS VEGAS, NV, April 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire ‒ One World Pharma Inc. (OTC: OWPC), (“OWP” or the “Company”), a U.S. based, fully licensed, pure-play hemp and cannabis ingredient producer in Colombia, is pleased to announce that it has completed its first sales of cannabis “cuttings” pursuant to approval from Instituto Colombiano Agropecuario (ICA). One World Pharma applied for and recently received approval from ICA in to sell cuttings or plantlets of its previously registered strains pursuant to its seed license.
Plantlets or “cuttings” are tiny germinated plants that can be immediately transplanted and grown in new areas. The ability to sell cuttings is mutually advantageous to OWP’s customers and the Company. While many cultivators prefer and are comfortable with purchasing and planting seeds, many would prefer the time-to-market advantage and elimination of germination risk by buying plantlets. One World Pharma has developed an effective means by which to grow genetically superior cuttings at scale.
To that end, OWP cuttings can be grown in a 20 day cycle with a current capacity of approximately 9,000 per cycle, with an expected scaling to a capacity of 18,000 cuttings per cycle by year end.
This new ICA approval builds on previous CBD and THC strain approvals and is an effective confirmation of the importance of the Company’s seed license. It is also another revenue stream concurrent to the Company’s seed sales and oil sales.
“One World Pharma continues to press forward with its plan to be a domestic and international provider of the highest quality registered genetics for its own sales and monetization, and for fellow cultivators who are without their own elite genetics and seed licenses,” said Isiah Thomas, CEO, of One World Pharma.
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 failure to close the remaining funding installments with ISIAH International, 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.
FAQ
What is the significance of One World Pharma's recent approval from ICA?
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