Diego Pellicer Plans to Become a Fully Integrated Cannabis Company
The company has announced several letters of intent to purchase retail, manufacturing and cultivation assets in Colorado.
Colorado Gov. Jared Polis signed H.B. 19-1090 into law this past summer, opening the door for outside investment and ownership opportunities in the state’s cannabis market, and Diego Pellicer is in turn launching an M&A strategy to take its business to the next level.
The company, which primarily functions as a cannabis brand and development company, has announced letters of intent to purchase a series of yet-to-be-named assets in Denver: a 3,300-square-foot retail store, a 2,287-square-foot cannabis-infused product manufacturing facility and two cultivation facilities with a total of just under 30,000 square feet of grow space.
“We have a series of assets that we are pursuing currently, both the ones we’ve announced and ones that are still in the pipeline,” Diego Pellicer CEO Ron Throgmartin told Cannabis Business Times. “We’ve been patiently waiting for the Colorado market to open up business to publicly traded companies, which we are on the OTCQB. We’ve had very close ties in the marijuana industry … in Colorado but we’ve never, until the recent passage of H.B. 1090, had the opportunity to directly profit from the sale of marijuana, and this is a major shift for Diego Pellicer.”
