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Diego Pellicer Worldwide Inc (OTCMKTS:DPWW) Reports Revenues from First of Three Facilities in Colorado

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Diego Pellicer Worldwide Inc (OTCMKTS:DPWW) has reported that the first of its three facilities in Colorado have begun generating revenue, while the other two are still scheduled to come online in the next few months. Although a consumer retail and real estate company, DPWW mainly focuses on the development of Diego Pellicer, which is a premium cannabis brand.

DPWW disclosed that it has generated over $72,000 from the CO cultivation facility, located on Jason Street. The facility has been operational for the last 6-months. Moreover, the lease agreement also contained an escalator clause, which will become effective from the current month. As such, the company expects that production revenues from the facility would almost triple to $32,000 per month.

The CEO of Diego Pellicer, Ron Throgmartin, stated that the company is growing as expected and as are the corporate development plans. Regarding the facilities, the CEO stated that he was pleased with the progress the tenants were making and he believed that they would exceed the management’s expectations. Mr. Throgmartin also stated that the market was quickly accepting the company’s business model. He also disclosed that the next three facilities would be rolled out in Colorado and Washington.

Diego Pellicer is also planning to launch its first retail store in Seattle, on May 4, 2016. The store would serve as the flagship outlet for company products. The CEO revealed that plans for the store had been in the pipeline for several years. The opening on May 4, would mark the first step to the complete rollout of retail locations for the Diego Pellicer brands. Mr. Throgmartin also disclosed that the initial goal of the company is to open retail locations, which are in compliance with state laws, which would be leased to licensed companies from the cannabis industry.

Diego Pellicer Worldwide Inc (OTCMKTS:DPWW) lost 2.61% of its share value, to reach a close at $0.710 per share, at the end of the April 25 trading session, after having a trade volume of 9,102.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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