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.
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
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.
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.