Power Leaves Corp. Announces Successful Visit by Colombian Vice President to Cohetando Facility
Ryan Allway
May 17th, 2023
News, Top News, Top Story
This visit represents a continuation of the government’s support for PLC, its partnership with the NASA Indigenous Community, and approach to de-stigmatizing the coca leaf.
TORONTO, May 17, 2022 — Power Leaves Corp. (“PLC”), a manufacturer of decocainized coca leaf extract, announces a successful visit by the Vice President of Colombia, Francia Marquez, to our Cohetando facility, operated in partnership with the Indigenous Foundation of the Colombian Andes (“NASA”) to present our decocainization process and facilities.
Vice President Marquez was accompanied by Congressmen, the Vice Minister of Justice, INVIMA officials, and civil and military authorities. During the visit to the facilities, the Indigenous people applauded her support for the project as one of the only opportunities they have had throughout history that will allow them to reach a dignified life.
Vice President Marquez was named one of the 25 most influential women in the world by the Financial Times and was also the winner of the Goldman Environmental Prize. Speaking from PLC’s facilities, she noted “we hope soon we will be able to launch from here a life project, and peace project to Colombia and the whole world.” A recap of the presentation from Vice President Marquez and the CEO of the NASA WALA, Victoriano Piñacue, can be viewed here.
“We were pleased to welcome Vice President Marquez to the Cohetando facility for a tour and in-depth discussions with our partners, the NASA Indigenous Community,” commented Pat McCutcheon, PLC Co-Founder & CEO. “We believe our collaborative approach will over time lead to the de-stigmatization of the coca leaf and continued development of this new industry to the benefit of the Indigenous peoples of Colombia.”
The new President of Colombia, Gustavo Petro Urrego, has emphasized three government priorities: a zero hunger policy, a total peace policy, and a new focus on the war against drugs. The PLC business plan is fully aligned with these three fundamental priorities, and is being considered the most viable solution to both reduce the exploitation of the coca leaf by drug traffickers and to generate legal, sustainable sources of economic development and food security for the Indigenous communities.
This visit follows an earlier visit in March 2023 to the Calderas facility in the town of Aipe, also located within the NASA community, where PLC presented the fertilizer and coca genetics R&D facility, operated in partnership with the Indigenous people, to the Colombian Government.
In partnership with the Colombian government and the NASA Community, PLC is supporting the creation of a nationwide solution to de-stigmatizing the coca lead and has been included in the Colombian Government’s National Economic Development Plan. As a culturally significant plant, a large number of Indigenous businesses already have extensive experience cultivating and commercializing coca leaf. Further, under Colombian law, Indigenous peoples have the right to cultivate coca for scientific, medical, and commercial purposes.
Since the 1800’s the taste and health benefits of the coca leaf have been well known. Today, PLC can legally produce, process, and export cocaine-free coca extract. The product is expected to have an incredible taste profile, along with numerous health benefits, where it can serve as an all-natural source of protein, nutrients, and vitamins.
This ingredient has served as the namesake and foundational ingredient in one of the world’s most beloved beverages – Coca-Cola – but regulatory restrictions have limited supply for the global market, preventing widespread adoption in food and beverage products. PLC is working with the NASA community to end those supply chain constraints and unlock the power of coca for the masses.
About Investing In Power Leaves Corp.
Power Leaves is currently accepting investments from accredited investors through a Reg D 506(c) offering. With over US$3.7M raised in the current round, the offering is expected to only be open for a limited time. To learn more about investing in Power Leaves visit invest.powerleaves.com.
About Power Leaves Corp.
Founded in 2019, Power Leaves is breaking the monopoly on the supply of coca leaf extract and ushering in a new Age of Coca. Through an exclusive agreement with an Indigenous community, Power Leaves has developed the first-ever legal Colombian supply chain for decocainized coca extract to supply the global food and beverage markets. Through its established infrastructure, Power Leaves is developing and manufacturing proprietary formulations of coca extract and essence that offer an exceptional taste profile and an all-natural source of protein, nutrients, and positive health benefits. For more information, visit www.powerleaves.com.
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This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected” “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive shareholder, director or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, PLC assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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