One World Products Secures Additional Equity Funding and Access up to Additional $10 Million
October 5th, 2022
News, Top News
Institutional Investor backing the Equity Line of Credit completes its $300,000 equity investment with second tranche of $150,000
CEO Isiah Thomas to increase total investment from $3 Million to $3.5 Million
LAS VEGAS, Oct. 5, 2022 /PRNewswire/ — One World Products, Inc. (OTCQB: OWPC) (the “Company” and “OWP”), the largest Black-controlled, fully-licensed hemp and cannabis producer in Colombia, today announced that it has filed its S-1 with the Securities and Exchange Commission as part of the recently announced common stock purchase agreement and registration rights agreement (together, the “Agreements”) with an institutional investor for up to $10 million worth of shares issuable over a 36-month period, based upon the current market price of the stock at the time. Upon filing the S-1, the institutional investor has made its second fixed-price follow-on equity investment of $150,000, which is also subject to Rule 144 and a 6-month holding period. Both of these fixed-price equity investments were priced at $0.15 per share.
Mr. Isiah Thomas, OWP Chairman and CEO, stated, “We are delighted that our newest institutional investor clearly values the vision and tremendous growth potential that we see for OWP. Their second equity investment provides additional capital that will be used to continue to scale our operations in Colombia, enhance industrial sales of hemp products to customers and expand our carbon credits program. Of tremendous importance to us has been the faith and enthusiasm this institutional investor has demonstrated, evidenced by their $300,000 investment that is priced approximately 50% higher than our recent share price. Even more supportive long term, they are allowing us control over the timing and amounts of future equity capital, which allows us to take advantage of sudden increases in our stock price.
“Furthermore, one of our original investors in OWP has increased his investment enabling us to restructure our debt with much more favorable terms. I would also like to highlight that I am personally investing an additional $500,000 at $0.15 per share in $100,000 increments over the next five months,” added Mr. Thomas. “As an ascendant international hemp and cannabis company focused on environmental, social, and governance (ESG) standards, we believe that these latest rounds of investment and refinancing position us well to elevate the Company to the next level.”
A more detailed description of the Agreements was set forth in One World Products’ Current Reports on Form 8-K as filed with the SEC.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.
About One World Products, Inc.
One World Products is the largest Black-controlled, fully licensed hemp and cannabis producer with offices in Las Vegas, Nevada, and offices 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.
As an ascendant international hemp and cannabis company focused on environmental, social, and governance (ESG) standards, the recently announced Isiah International/One World Products/AMUNAFRO consortium controls approximately 1.2 million acres of land in Colombia focused on the licensed production of industrial hemp for integration into sustainable, carbon-reducing products made throughout the world. The Company expects to supply its global clients with the highest quality industrial and commercial applications for cannabis, hemp, and hemp products, including derivatives in crude oil, distillate, and isolate forms with industrial-scale production to serve global cannabis and hemp demand. Its products will be produced and tested according to GAP, GMP and ISO standards. For more information, please visit https://oneworldproducts.com/. #HempIsTheNewPlastic (TM)
About Isiah Thomas and ISIAH International, LLC
Isiah Thomas was inducted into the National Basketball Association (NBA) Hall of Fame in 2000 after spending his entire career with the Detroit Pistons. He was a 12-time NBA All-Star, a two-time NBA champion, the 1990 NBA Finals Most Valuable Player, and named as one of the 50 Greatest Players in NBA History. Today, Mr. Thomas serves as an analyst for NBA TV and is an accomplished and highly respected international business executive and investor. His portfolio of companies was developed through Isiah International, Inc., which invests in companies with strong market positions and growth potential.
Mr. Thomas’ business interests include sports and entertainment, real estate, waste management, hemp, cannabis, and a CBD personal products company, among others. In addition, Mr. Thomas has developed a very successful champagne business, Cheurlin Champagnes. He has cultivated excellent relationships with the grower, employees, and the French government. As a result, he now owns the proprietary genetics for the Champagne grapes he produces and has perfected an international import/export system for the global distribution of the product. More information is available at www.isiahinternational.com.
Mr. Thomas previously served on the Chicago Stock Exchange’s Board of Governors, was a co-founder of the NBA’s Toronto Raptors, Popcorn Indiana, and was a member of the Board of Get-in Chicago, an organization that focused on preventing gang violence in Chicago. He is a Distinguished Alumnus of Indiana University, where he earned his Bachelor of Arts in Criminal Justice. He also received his Master of Education from the University of California at Berkeley.
|Contacts:||Ken Dennard / Rick Black|
|Dennard Lascar Investor Relations|
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