Announcement • Dec 16
Diego Pellicer Worldwide, Inc. Settles Lawsuit with Colorado Operator by Entering into a Binding Settlement Term Sheet, Receives Conditional $4.5 Million Confessions of Judgment Diego Pellicer Worldwide, Inc. (Diego or the Company) announced that it has signed a binding settlement term sheet (Term Sheet) with its Colorado tenants, Royal Asset Management, LLC (RAM) and Venture Product Consulting, LLC (VPC). Pursuant to the provisions in the Term Sheet, the Parties shall enter into two Membership Interest Purchase Agreements to which Neil Demers (Demers), majority owner of RAM and VPC, will transfer and cause to transfer 100% of all membership interests of RAM and 99% of membership interests of VPC to Diego, a subsidiary of Diego, or a special purpose acquisition company designated by Diego (the Transaction)). The Agreement resolves a lawsuit in which the Company alleged that RAM was in breach of contract for failure to make payments to the Company under certain sublease agreements, and also a certain promissory note that the Company issued to RAM (the Action). In addition, both RAM and VPC signed a Stipulation for Entry and Confessions of Judgment (the Confessions) in favor of Diego in the amounts of $4,435,000 and $65,000, respectively, should the Transaction fail to close. The Confessions will not be enforceable and the Company shall not file the Confessions in any court until the later of (1) the date on which RAM’s debt to Capital 420, LLC is repaid, or (2) May 31, 2023. In addition, upon the closing of the Transaction, the Company will issue 12.5% of the Company’s outstanding shares of common stock to Demers, as of May 21, 2023, and will issue 28.3% of the Company’s outstanding shares of common stock to Phi Beta Capital Advisors, Ltd, as of May 21, 2023. The Transaction is subject to certain conditions that are included within the Term Sheet, including, but not limited to, the approval by the Colorado Marijuana Enforcement Division. Announcement • Apr 03
Diego Pellicer Worldwide, Inc. announced delayed annual 10-K filing On 04/01/2022, Diego Pellicer Worldwide, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jan 06
Diego Pellicer Worldwide, Inc. has signed a non-binding letter of intent to acquire Hemp Choice Distribution, LLC for approximately $4.4 million. Diego Pellicer Worldwide, Inc. has signed a non-binding letter of intent to acquire Hemp Choice Distribution, LLC for approximately $4.4 million on January 4, 2022. The $4.4 million dollar cash and stock deal includes an initial payment of $250,000 to Hemp Choice with the balance paid in common and preferred stock. The definitive agreement is expected to be completed and signed in the first quarter of 2022. 
