Shifting Operational Strategy in Colombia and Ramping Up Other Initiatives in Order to Accelerate the Timeline to More Significant Revenue
LAS VEGAS, NV, Sept. 11, 2024 (GLOBE NEWSWIRE) -- One World Products, Inc. (the "Company,") (OTCQB: OWPC), a fully-licensed hemp and cannabis producer, is pleased today to provide the following shareholder update letter.
Dear Valued Shareholders,
I write to you today with a deep sense of gratitude, pride, and optimism. Gratitude for the unwavering dedication of our employees, partners, and shareholders in supporting our journey so far, and great optimism for the promising path ahead. Director Ken Perego and I remain aligned with our shareholders, having invested $5 million of our personal funds into One World Products. Though our progress has been slower than anticipated, we believe strongly in the foundation we have built and are confident in our strategy for generating and scaling revenue.
Automotive Industrial Hemp Update:
The automotive industry presents a substantial opportunity for us, particularly as global OEMs target to incorporate 200 pounds of renewable materials per vehicle. Our focus is on leveraging industrial hemp to replace plastics and additives in automotive applications. To drive this initiative, we have assembled a team of experienced material and application engineers with over 60 years of combined expertise at Stellantis.
We stand apart from many hemp startups by offering validated products that have passed rigorous tests with our container partner, ORBIS Corporation, and tier-one supplier, Flex-N-Gate, both suppliers to Stellantis. Through our strategic partnership with West Michigan Compounding, our materials can now be molded into automotive component containers. We are also working on substituting mica with hurd powder in protective plastic wraps used for shipping, replacing glass fiber in brackets, and enhancing decorative components in automotive interiors. With these innovations, we remain optimistic about securing purchase orders in the near future.
Pro-11 Update:
Pro-11, our premium CBD-enriched muscle rub, continues to receive excellent feedback since its launch. The product's success is a testament to its high-quality blend of CBD, essential oils, and natural extracts. As we continue to refine the Pro-11 brand, we are expanding our product offerings, enhancing packaging, and strengthening our distribution channels. Through strategic partnerships, we are poised to scale operations both online and in retail, catering to the growing demand for natural wellness solutions. Our focus on refining brand identity and improving customer experience will further elevate Pro-11's market presence.
Management and Operational Team Update:
We are thrilled to welcome Chris Wolven to our operational team. With over 10 years of experience in the cannabis industry, Chris has successfully scaled operations in previous roles, reaching revenues of up to $30 million annually. Since joining One World Products, Chris has quickly become an integral part of the team, bringing valuable insight and strategic contributions across multiple facets of the business. His work has already helped us improve operational efficiency, streamline processes, and lay the groundwork for sustainable growth. Additionally, we have refined our management structure to enhance overall efficiency, reduce overhead, and position the Company for long-term success.
Colombian Operations Update:
As we continue to refine our initiatives and operations in Colombia, we are pleased to announce the acquisition of Petalo Pharmaceutical SAS. This acquisition complements our transition to an asset-light model, allowing us to focus on operational efficiency while reducing overhead and capital expenditure. Our strategy leverages new and existing partnerships and resources to ensure flexible and scalable growth as market conditions evolve.
We remain committed to diligently managing all aspects of our current and future operations, ensuring that we adapt to changing circumstances while preserving capital. By optimizing our approach and focusing on sustainable growth, we are positioning the Company to seize emerging opportunities and strengthen our foundation for long-term success.
On the capital markets side, we will ramp up efforts to increase visibility and attract new shareholders through press releases, conferences, roadshows, and investor calls. We look forward to keeping you updated as we continue to execute on our strategic initiatives.
Sincerely,
Isiah Thomas
CEO of One World Products
For more information, please visit https://oneworldproducts.com/. HempIsTheNewPlastic
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
