Diego Pellicer Worldwide, Inc. cancelled the acquisition of Hemp Choice Distribution, LLC.
April 21, 2022
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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.
Diego Pellicer Worldwide, Inc. is a real estate and consumer retail development company. The Company leases real estate to licensed marijuana operators, providing complete turnkey growing space, processing space, recreational and medical retail sales space, and related facilities to licensed marijuana growers, processors, dispensary, and recreational store operators. It is focused on developing its Diego Pellicer marijuana brand and quality facilities and products. It has developed a brand name strategy, providing training, design services, branded accessories, systems and systems training, location selection, and other advisory services to their tenants. In addition, the Company plans to explore ancillary opportunities in the regulated marijuana industry, as well as offering wholesale distribution-branded non-marijuana clothing and accessories. Its wholly owned subsidiary, Diego Pellicer Management Company, licenses the upscale Diego Pellicer (DP) brand to various operators.