One World Legends (OWL) has successfully secured more than a dozen Letters of Intent agreements with licensed Colombian cannabis farms, signifying their dedication to facilitating the worldwide distribution of THC flower and related products.
These Letters of Intent serve as a testament to OWL's commitment to organizing large-scale cannabis exports, while enabling the licensed farms to inform the government about their intended quotas for legal cultivation and exportation from Colombia. OWL's ability to establish such partnerships stems from their extensive historical relationships, spanning several decades, which have cultivated a profound level of mutual respect. These longstanding connections have been revitalized and celebrated, thanks to the positive changes in cannabis legalization. Moreover, OWL has also forged new alliances based on shared ideals, business objectives, and a shared vision for the industry. The company's President, Rocky Petrullo, brings a wealth of cannabis experience from Colombia, Jamaica, and the United States, further enhancing OWL's credibility and expertise in the field.
UNLOCKING NEW PPORTUNITIES
Colombian Export of Dried Flower
A significant development has emerged in Colombia's cannabis industry, as the government recently enacted Decree 811 of 2021, amending Decree 613 of 2017, which governs the cultivation, commercialization, derivatives, and use of cannabis seeds for medicinal and scientific purposes. Among the notable changes is the elimination of the export ban on the dried flower of the cannabis plant, effective from the spring of 2022. Previously, only extracted oil was permitted for export, making this a pivotal transformation. The removal of restrictions on exporting dried flower presents a remarkable opportunity for small and medium-sized Colombian farmers to venture into this thriving global business. With the door now open to trade this highly sought-after product, these farmers can actively participate in the cannabis industry, contributing to its prosperity on a worldwide scale.
Excellence in Cannabis Cultivation
Colombia has consistently held the title of the ultimate destination for superior medical cannabis cultivation. Its advantageous conditions include abundant sunlight, a natural 12-hour day and night cycle, historically fertile soil, and an exceptional pool of skilled professionals. Over the course of generations, the harmonious presence of beneficial insects, fauna, and flora has contributed to the production of organic cannabis of unparalleled quality. Colombia, much like the renowned Juan Valdez coffee, possesses an innate reputation as a distinguished "Brand." Its cannabis flowers have garnered worldwide recognition for over 55 years or even longer. After years of anticipation, the legalization of cannabis presents an opportunity for Colombia to share its exceptional product with the global market. OWL is poised to facilitate the distribution of top-notch supply to meet the growing demand.
COLOMBIAN CANNABIS EXPORTS
Unleashing Exponential Growth Potential
According to the National Administrative Department of Statistics (Dane), the Colombian cannabis export market has experienced a significant surge. Between January and November 2020, the primary buyers of Colombian medical cannabis were the United States, the United Kingdom, Australia, Israel, Germany, and Switzerland. Notably, this data predates the authorization for flower exports, and substantial developments have unfolded since then, shaping the global landscape. During this period, the value of exports skyrocketed from USD$275,000 in 2019 to an impressive USD$4.7 million, representing a remarkable growth rate of over 1,600%. Víctor Muñoz, the director of the administrative department of the Presidency, confidently stated that by the year 2024, the market has the potential to reach a staggering value of approximately USD$62 billion. This exponential growth in Colombian cannabis exports underscores the vast opportunities within the industry. As regulations continue to evolve and demand surges, Colombia has firmly established itself as a key player in the global cannabis market, attracting attention and generating substantial economic prospects.
OWL EXPLORES COLOMBIAN CANNABIS INDUSTRY
A Vision for Global Distribution
One World Legends (OWL) has embarked on two visits to Colombia within an eight-month period to assess the potential of the newly legalized cannabis industry. Following a successful six-year venture in Jamaica, where Rocky obtained four government-issued cannabis licenses and established a thriving dispensary, his attention turned to Colombia, a historical cannabis mega supplier now embracing legality. Additionally, OWL aimed to evaluate the reception of Colombian cannabis in the soon-to-open European market. To strategize OWL's mission of distributing legal Colombian cannabis worldwide, Rocky planned a business trip to Barcelona and Amsterdam in early 2022, further solidifying the company's vision and mission. In July 2022, Rocky embarked on a three-city road trip within Colombia, visiting potential partners, licensed farms, and industry leaders. His firsthand experience affirmed that the Colombian cannabis industry is poised to produce high-quality, large-volume, and competitively priced THC cannabis flower for exportation.
Until 2022, commercial cultivation and exportation in Colombia were primarily limited to non-psychoactive Medical Hemp, with only financially capable companies engaging in cannabis oil extraction for export. OWL aims to become the leading global supplier of landrace, heirloom, and premium strain flower and products to licensed businesses involved in the legal importation and distribution of medical, scientific, and recreational cannabis. The company recognizes the significance of legendary Colombian strains and landrace strains, such as Colombian Gold, Colombian Punta Rojo, Mango Biche, Durban Poison, and Afghan Kush, which have long been associated with enhancing holistic well-being. Landrace strains represent the original and naturally occurring cannabis varieties that served as the foundation for modern strains worldwide. OWL's mission is to revive these veteran strains and make them available to legal customers, playing a vital role in preserving the heritage and diversity of the cannabis culture. OWL is committed to realizing its vision by establishing strong partnerships, sourcing and distributing exceptional strains, and serving as a global bridge between Colombian growers and legal markets worldwide.