SEATTLE, March 7, 2017 /PRNewswire/ -- Diego Pellicer Worldwide, Inc., a real estate and consumer retail development company that is focused on developing the world's first "premium" cannabis brand, today announced a first in the Company's history of operations.
The 4 Branded tenants Diego Pellicer has under its operations, covering Washington and Colorado, have all performed under their lease agreements and paid rents for March 1st. This marks a first in the history of Diego Pellicer Worldwide, Inc., and leads the way to a cashflow positive financial picture. The business model is reliant on the tenants' success and their ability to perform under our unique business model. Washington opened the flagship store in Seattle in the fourth quarter of 2016, and our Colorado store opened last month to great fanfare.
Our exclusive tenants have secured multiple state cannabis licenses, including medical and recreational cultivation licenses, infused medical and recreational products manufacturer licenses (Medical Processor License for edibles and concentrates), and retail licenses.
Ron Throgmartin, CEO of Diego Pellicer Worldwide, stated, "2017 is the breakout turning point of the company's future, with all our tenants stepping up to the plate and performing under their agreements. We are poised to be cash-flow positive, proving our business model, allowing us to leap forward with new acquisitions, increase our market share, and follow our growth strategy, to drive shareholder value."
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.