By Jelena Martinovic.
One World Pharma Inc. OWPC, a producer and distributor of cannabis and hemp raw plant ingredients, announced a letter of intent Friday between Hemp Inc and One World Pharma SAS.
Hemp Inc, a producer of eco-friendly products, said it expects to buy 3,000 kilograms of non-psychoactive CBD crude and CBD distillate every three to four months.
“One World Pharma is elated to now be entering our anticipated commercialization phase of our Colombian-grown CBD ingredients,” One World Pharma president Brian Moore said in a statement.
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The price per kilo of CBD ingredients will depend on the predominant U.S. market and will be trimmed by bilaterally settled volume discounts. The shipment of a sample from Colombia and a due diligence period is determined by the letter of intent.
“This opportunity to work with one of the most well-known and well-established hemp companies is an important seminal transaction and clearly our 30% discount to most U.S. CBD pricing was very attractive to Hemp, Inc.," Moore said.
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