LAS VEGAS, NV, Feb. 09, 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 an agreement with ISIAH International, LLC, the holding company of its CEO, Isiah Thomas, to invest $3 million into One World Pharma, Inc.
The $3 million investment will fund the expansion of farm operations, additional certifications for THC seeds already approved by the government of Colombia, Global GAP (Good Agricultural Practices) certification and the build-out of a GMP certified state-of-the-art THC/CBD extraction facility. The investment will be made in installments over six months, with the first tranche of $250,000 having already been funded. The farm expansion through this funding is expected to allow One World Pharma to significantly increase revenue in the second quarter of 2021 through the increased sale of seeds, newly approved cuttings, and extracted oil.
Isiah Thomas makes this substantial financial commitment through ISIAH International based on his belief in the bright future of the global cannabis market, which leading research firms assert will reach $47 billion in annual sales by 2025. ISIAH International is a holding company with interests in a diversified portfolio of companies. Wholly owned by Chief Executive Officer Isiah Thomas, ISIAH International invests in companies with strong market positions and growth potential.
“We could not be more thrilled. When Isiah Thomas assumed the role of CEO he lent us his good name and his world-renowned leadership and business acumen. Today, he provides the funding for the Company to truly execute on its plan to become a leading international supplier of the finest cannabis ingredients,” stated Dr. Kenneth Perego, OWP’s Executive Chairman.
Isiah Thomas, on behalf of ISIAH International, stated, “After extensive analysis of Colombia, the world market and these most recent developments at the Company, I passionately believe there is a tremendous opportunity to build a world class, valuable, environmentally and socially conscious company that is a significant player in the global cannabis and industrial hemp industries. There are few, if any, reliable, industrial scale, global supply chain companies in this space and we intend to be one. I am pleased to initiate this next chapter of growth.”
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.