Diego Pellicer Worldwide, Inc. has signed a non-binding letter of intent to acquire Hemp Choice Distribution, LLC for $4.4 million on January 4, 2022. The $4.4 million cash and stock deal includes an initial payment of $250,000 in cash, the number of restricted shares of Diego Pellicer Worldwide, Inc.'s common stock that is equal to $250,000 and $3,900,000 in the form of 390,000 shares of redeemable preferred stock. The definitive agreement is expected to be completed and signed in the first quarter of 2022. Diego Pellicer Worldwide, Inc. signed a definitive agreement to acquire Hemp Choice Distribution, LLC on February 8, 2022. Gabriela Vergara, Chief Executive Officer and founder of Hemp Choice Distribution will be joining the team of Diego Pellicer. The closing of the transaction is expected to occur within 90 days from the date of the Purchase Agreement.

Diego Pellicer Worldwide, Inc. cancelled the acquisition of Hemp Choice Distribution, LLC on April 22, 2022.