Diego Pellicer Worldwide Inc (OTCMKTS:DPWW) Signs An LOI To Acquire Denver Based 2,287 Sq. Ft. Marijuana Infused Product Facility

Diego Pellicer Worldwide Inc (OTCMKTS:DPWW) has announced signing a Letter of Intent to acquire Denver based 2,287 Sq. Ft. MIP (marijuana-infused product) manufacturing facility. The new state of the art facility features a walk-in vault, office, and a class 1 facility. The new facility helps the company to manufacture 2,650 pounds of cannabis annually for recreational and medical use.

Diego Pellicer would have the capability to produce 4,500 pounds of cannabis annually with the takeover of this second manufacturing facility. The company announced the signing of LOI on September 10, 2019. Chief Executive Officer of Diego Pellicer, Ron Throgmartin said this strategic acquisition makes Pellicer a vertically integrated marijuana firm. The company is into cultivation and production to recreational and medical sales. The latest stint is a perfect fit for the expanded business model of Diego Pellicer.

Manufactures premium concentrates

After receipt of nod from the Colorado Marijuana Enforcement Division, Diego Pellicer would engage in the production of marijuana-infused products and premium concentrates. The deal is also subject to compliance with House Bill 19-1090. The company would sell world-class marijuana-infused products at its retail locations across the world. According to CEO, the takeover of the facility is a significant leap in its stride to expand the business in states that permit recreational and medical cannabis operations.

Deal includes cannabis extraction machine

As part of the non-binding LOI, Diego Pellicer would receive a number of machines. These include a cannabis extraction machine together with fumigation hoods, recovery pump, flower preparation room, rosin press, isolated grid room, and vacuum oven.

Competitively priced finest products

The customers can expect the finest products from branded stores of Diego Pellicer. They will also enjoy exceptional customer service. You can buy experts selected, and Diego Pellicer cultivated premium quality products irrespective of the location.

Record Sales in July

Diego Pellicer has announced record gross sales in July 2019 from its licensee in Denver. It is an increase of 8.56% since April 2019. According to the CEO, the success is on the backdrop of offering premium quality products backed by excellent customer service. The company expanded its customer base by providing cannabis products at all price points.

By Steven Russell

Steve covers business and investing in emerging medical marijuana markets. Steve graduated from the university of New Orleans with a degree in Broadcast Journalism. Steve has published several articles in professional journals and magazines. His experience gives readers an inside look at the intersection of his specialties, business and medical marijuana.

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