Diego Pellicer Worldwide, Inc. Executes Agreement To Convert Debt Into Equity And Working Capital In Colorado Cannabis DispensaryPosted by On

Cannabis green leaf

/EIN News/ — RENO, Nev., Sept. 16, 2020 (GLOBE NEWSWIRE) — Diego Pellicer Worldwide, Inc. (OTCQB: DPWW), a premium marijuana brand and retail development company, today announced that it has executed an agreement to convert debt owed to DPWW from its Colorado licensee’s Broadway dispensary into $300,000 cash and 15.13 percent equity in the newly remodeled dispensary. As equity owners, DPWW joins an investment group that includes Cookies, a California-based cannabis and lifestyle brand. This latest move delivers on DPWW’s evolved business model including direct ownership in cannabis operations.

“This transaction advances Diego Pellicer Worldwide’s long-term corporate strategy,” said Nello Gonfiantini III, chief executive officer, Diego Pellicer Worldwide, Inc. “By structuring a deal that returns our invested capital and participates in ownership of the Broadway dispensary, we are furthering the company’s objective to…

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