SEATTLE, April 11, 2016 /PRNewswire/ -- Diego Pellicer Worldwide™ (OTCQB: DPWW) a real estate and a consumer retail development company that is focused on developing Diego Pellicer™ as the world's first "premium" cannabis brand, today reports that the company has been booking revenue from the first of its three Colorado facilities, with the others scheduled to come on line in the ensuing months.
The Company has been generating $12,000 per month from the Jason Street (CO) cultivation facility for the past six months. An escalator clause in the lease agreement triggers this month and it is anticipated that the rate will increase to $32,000 on May 1, 2016. (Pending finalization of rate increase negotiations with tenant.)
"Our corporate development plans and Company growth continues as expected. We are pleased with the progress of our tenants, and are confident that they will exceed our expectations," said Ron Throgmartin, Diego Pellicer's CEO. "We remain on track with the rollout of our next three facilities in both Colorado and Washington, and we are very encouraged by the market's continued acceptance of our business model."
About Diego Pellicer Worldwide:
Diego Pellicer Worldwide Inc. is a real estate and a consumer retail development company that is focused on developing Diego Pellicer as the world's first "premium" marijuana brand by adhering to the highest quality and standards for its facilities along with both cannabis and non-cannabis products. The company's initial focus is to acquire and develop legally compliant real estate locations for the purposes of leasing them to state licensed companies in the cannabis industry. Diego does not grow or sell marijuana or marijuana infused products in the early stages of the plan. 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.
For Diego Pellicer Worldwide:
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SOURCE Diego Pellicer Worldwide Inc.