Ron Throgmartin, CEO of Diego Pellicer Worldwide, stated, "2016 has turned out to be the watershed moment the cannabis industry and Diego Pellicer were hoping for. Following the elections last week, we were very pleased to see the impressive turnout and results across the country as citizens voted yes to legalize recreational cannabis in four states including California and Nevada with medical cannabis becoming legalized in three additional states, including Florida. These election results have allowed us to expand upon our growth strategy and move into larger target markets outside of Colorado and Washington as we aim to increase our market share and drive shareholder value."
Throgmartin concluded, "We continue to see increasing sales figures across the board with our flagship Seattle store averaging 100-150% increases in weekly sales volume. Our tenant's cultivation facilities in Denver are seeing increased wholesale results and we anticipate the flagship store in Denver to open in December 2016. Also, we are anticipating to be cash flow positive in the first quarter of 2017."
The full third quarter 2016 report for Diego Pellicer will be available on the SEC website at https://www.sec.gov/.
About Diego Pellicer Worldwide
Diego Pellicer Worldwide Inc. is a real estate and consumer retail development company that is focused on developing Diego Pellicer as the world's first "premium" marijuana brand. Through the development and acquisition of premium, legally compliant real estate locations for cannabis growers and retailers, Diego Pellicer Worldwide provides a best-in-class platform for new business growth in the cannabis industry. Diego Pellicer does not grow or sell marijuana or marijuana infused products. For more information, please visit our website at http://DiegoPellicer.com/
Safe Harbor Statement
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of Diego Pellicer review its filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
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SOURCE Diego Pellicer Worldwide Inc.