One World Products, Inc. announced that it expects to receive $0.3 million in funding from Tysadco Partners, LLC
September 01, 2022
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One World Products, Inc. announced that it has entered into securities purchase agreement with new investor Tysadco Partners, LLC for a private placement of 20,000 series B preferred shares at a price of $15 per share for gross proceeds of $300,000 on September 1, 2022. The company issued securities pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended and Rule 506(b) promulgated thereunder. The securities issued are restricted. The preferred shares issued in the transaction will have six month holding period.
As of the same date, the company issued 10,000 series B preferred shares at a price of $15 per share for gross proceeds of $150,000.
One World Products, Inc. is a holding company and conducts its business in Colombia through One World Pharma, S.A.S., a Colombian company (OWP SAS), its wholly owned subsidiary. OWP SAS has the licenses to cultivate, produce and distribute the raw ingredients of the cannabis and hemp plant for medicinal, scientific, and industrial purposes in the town of Esmeralda-Popayan, Cauca, Colombia. Its business involves the cultivating, processing, and supplying crude cannabis oil, distillate and isolate to customer specifications. OWP SAS owns approximately 30 acres and has a covered greenhouse built specifically to cultivate high-grade cannabis and hemp. In addition, it has entered into agreements with local farming co-operatives that include small farmers and indigenous tribe members, under, which they cultivate cannabis on up to approximately 140 acres of land using the Company seeds and propagation techniques and sell their harvested products to the Company on an exclusive basis.