Diego Pellicer Announces Leases of Two Grow Facilities in Colorado
SEATTLE, Aug. 16, 2016 /PRNewswire/ -- Diego Pellicer Worldwide, Inc. ("Diego Pellicer" or the "Company") (OTCQB: DPWW), a real estate and consumer retail development company that is focused on developing Diego Pellicer as the world's first "premium" cannabis brand, today announces that the company has leased two facilities to grow operators in Denver, CO.
The grow facilities are licensed for both medical and recreational cannabis and are in excess of 30,000 square feet. The Jason Street grow facility is currently operating at 100 percent capacity while the Elizabeth Street grow facility is operating at 30 percent. The leases at both facilities are set to expire in 2020 and have five year options for renewal.
Ron Throgmartin, CEO of Diego Worldwide, stated, "The grow facilities we lease are best of class, allowing our tenants to compete from the start as they aim to become successful in this burgeoning industry. The cannabis industry is still in its early stages but through our unique commercial and retail business models we can substantially manage risk and generate leasehold revenue while capitalizing on the long term growth potential of the cannabis market. As our grow & retail tenants mature and demonstrate a track record of revenue generation and reliable cash flows, we will negotiate to acquire select tenants for equity and fully consolidate these businesses at attractive valuations, when State and Federal law permits."
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/
Diego Pellicer Worldwide 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.
Contact:
Todd Fromer
KCSA Strategic Communications
[email protected]
SOURCE Diego Pellicer Worldwide, Inc.
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