DENVER, Oct. 12, 2016 /PRNewswire/ -- Diego Pellicer Worldwide, a real estate and consumer retail development company that is focused on developing the world's first "premium" cannabis brand, today announced that their Colorado tenants have been approved for three new state licenses for medical and retail operations in the state of Colorado. Diego Pellicer Worldwide's tenants have been approved for a total of ten state licenses at three properties in Denver, CO.
The West Alameda Avenue property has received its medical marijuana center and retail marijuana store licenses by the state of Colorado. The 3,300 square foot property is currently under construction with operations expected to begin late fourth quarter of 2016. The tenants have eight additional state licenses at its Elizabeth Street and Jason Street properties with the Elizabeth Street property recently securing a recreational Marijuana Infused Product license to its facility. The Elizabeth and Jason Street properties represent almost 40,000 square feet of cannabis production capacity and both are currently in operation.
Ron Throgmartin, CEO of Diego Pellicer Worldwide, stated, "The licenses our tenants have secured for the West Alameda property is a step closer to expanding Diego Pellicer's footprint in the Colorado market as we strive to become the premium cannabis brand in the industry. It is our goal to become the premium brand in the U.S. cannabis market and capitalize on the long term potential of this industry. The progress of our tenants' operations in Colorado, and the upcoming opening of our branded flagship store in Seattle, allows us to take one step closer to achieving our goals."
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.
KCSA Strategic Communications
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SOURCE Diego Pellicer Worldwide Inc.