Diego Pellicer Worldwide Inc. (DPWW)

[BigMoneyAtl]

RENO, Nev., Oct. 26, 2020 (GLOBE NEWSWIRE) -- Diego Pellicer Worldwide, Inc. (OTCQB: DPWW), a premium marijuana brand and retail development company, today announced that it has reduced its institutional convertible debt by more than 80% over the past 12 months. Most recently, DPWW has prepaid an outstanding convertible note held by JSJ Investments. Read the 8-K filing at https://www.diego-pellicer.com/investor-relations/ and click on the Oct. 26, 2020, filing. "We continue to look for ways to effectively use Diego Pellicer Worldwide capital and improve our balance sheet -- in this case, prepayment of a convertible note," said Nello Gonfiantini III, chief executive officer, Diego Pellicer Worldwide, Inc. "As a result of these ongoing efforts, Diego Pellicer Worldwide has less debt on its books and can build upon the company's business model, while limiting additional DPWW shares from entering the market." DPWW paid to JSJ Investments an aggregate $67,749.80, comprised of $42,078.41 of the outstanding principal, $6,736.11 of accrued interest (12%) and a reduced prepayment penalty of $18,935.28. The payment satisfied the convertible note held by JSJ Investments in the original principal amount of $103,000, dated March 23, 2020.