Will Continue its
Extraction Operations in Colombia Without
Interruption
LAS VEGAS, NV -- January 22, 2024 -- InvestorsHub NewsWire --
One World Products, Inc., a fully-licensed hemp and cannabis
producer in Colombia and ascendant international hemp and cannabis
company, today announced a strategic reorganization plan for its
principal subsidiary, One World Products Pharma SAS
("OWP-Colombia"). This reorganization under Colombian Law 1116 of
2006 represents a step forward in the Company’s strategy to
optimize its operations and position itself for significant growth
through recently established key partnerships with market leaders
in the cannabis and organic cosmetics sectors.
OWP will continue its extraction operations in Colombia without
interruption, as the reorganization proceedings streamline
operations and direct resources toward the most promising areas for
growth. The Company's newly reorganized structure not only reflects
a commitment to past obligations but also enhances efficiencies,
allowing OWP to concentrate on its core strategic initiatives for
the future.
OWP’s key partnership and distribution agreements with Smokiez
Edibles and the Marley family’s Kx Family Care remain top
priorities and will benefit from these restructuring efforts, with
both operations set to continue their commercial development and
implementation as planned in early 2024.
"This reorganization is a strategic recalibration, allowing us
to honor our past commitments while paving a clear path for future
growth,” says Isiah Thomas, Chairman and CEO for One World
Products. “We are taking a thoughtful approach to restructuring
that will position us for sustainable success and more effectively
commercialize our exciting partnerships with Smokiez Edibles and Kx
Family Care. Our commitment to our customers and stakeholders
remains stronger than ever."
The Company is also advancing its plans to acquire a new
fully-licensed subsidiary within the Bogotá Free Trade Zone which
will further streamline operational efficiencies toward revenue
generation in line with current business projections.
About One World Products, Inc.
One World Products is a fully licensed hemp and cannabis
producer with offices in Las Vegas, Nevada, and operations in
Bogota and Popayan, Colombia. One World Products planted its
first crop of cannabis in 2018 at its cultivation site in Popayan,
Colombia, and began harvesting commercially in the first quarter of
2020. www.OneWorldProducts.com.
Forward-Looking Statements:
This press release contains “forward-looking statements.” Such
statements may be preceded by the words “intends,” “may,” “will,”
“plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential,” or similar
words. Forward-looking statements are not guarantees of
future performance, are based on certain assumptions and are
subject to various known and unknown risks and uncertainties, many
of which are beyond the Company’s control, and cannot be predicted
or quantified and consequently, actual results may differ
materially from those expressed or implied by such forward-looking
statements. More detailed information about the Company and the
risk factors that may affect the realization of forward-looking
statements is set forth in the Company’s filings with the
Securities and Exchange Commission (“SEC”), including the Company’s
most recent Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q. Investors and security holders are urged to read these
documents free of charge on the SEC’s website at www.sec.gov.
All forward-looking statements speak only as of the date on
which they are made. The Company undertakes no obligation to update
any forward-looking statement or statements to reflect events or
circumstances after the date on which such statement was made,
except to the extent required by applicable securities laws.
Investor Contact:
ClearThink IR
bloper@clearthink.capital
602-785-4120