Cannabis company Diego Pellicer Worldwide, Inc. (OTC:DPWW) has signed a definitive agreement to acquire Hemp Choice Distribution, LLC, a leading provider of full spectrum hemp and CBD.
Deal Details
The $4.4 million dollar cash and stock deal includes an initial payment of $250,000 to the owners of Hemp Choice with the balance paid in common and preferred stock.
DPWW management anticipates the transaction to close within three months.
Why It Matters?
Hemp Choice is a leading distributor and provider of the highest-quality CBD and hemp.
The company works with growers, processors, manufacturers and retailers to provide hemp and CBD for use in a wide variety of commercial and industrial products. CBD and other cannabinoids such as CBG, CBC and CBDA in oil and water soluble form, are nonpsychoactive.
“With the acquisition of Hemp Choice, Diego Pellicer Worldwide is advancing the company’s long-term business goals,” Nello Gonfiantini III, CEO of Diego Pellicer Worldwide, Inc., said. “We’re expanding into a rapidly growing product category. Hemp Choice is a premium provider of hemp and CBD. We welcome them as a wholly owned subsidiary.”
What’s Next?
“I look forward to working with Diego as we expand business opportunities in the cannabis space of hemp and CBD – one of the fastest growing segments in this marketplace,” Gabriela Vergara, CEO and founder of Hemp Choice Distribution, LLC, said.
Diego Pellicer Worldwide, Inc. is a premium cannabis company. The company actively seeks strategic acquisitions, partnerships and collaborations in cannabis, hemp and CBD companies.
Photo: Courtesy of Diego Pellicer Worldwide, Inc.
