One World Products Inc. (OTC:OWPC) Stock Gains Momentum: Now What?
This morning, most investors are going to be tracking those companies that may have been in the news cycle on Monday, and one of the companies that could come into focus is One World Products Inc. (OTC:OWPC). The company, which is a major player in the hemp and cannabis production space, announced yesterday that it had inked an exclusive agreement with the firm Procepack Corp., a well-regarded worldwide player in the packaging of line and automated integration equipment.
As per the terms of the agreement, One World Products would be provided with perpetual exclusive rights for purchasing PreRoll-Er fully automated pre-roll filler systems in Columbian territory. However, that right would be dependent on meeting targets for production volume and acquisitions of future equipment. In the news release, it was noted that the PreRoll-Er system had the capability of producing a maximum of 2200 pro-roll products an hour.
Such a production rate would take the daily production to 17600 pre-roll, the monthly production to around 370,000, and the yearly production to 4.5 million. It would also be inclusive of a comprehensive packaged solution. The development would provide One World Products with considerably advanced production capabilities. It would also take the company to a position from which it could scale its operations to never-before-seen levels.
It was also revealed that, as per the agreement, effective February 26, 2024, Procepack would also support the expansion of One World Products in the fast-growing worldwide cannabis market. It would enable that by providing One World Products with advanced technology that would streamline the production process. The company’s Chairman and Chief Executive Officer, Isiah Thomas, noted that the partnership marked a major new milestone for the production technology of One World Products. He went on to note that the new system would enhance the company’s efficiency considerably.
