LAS VEGAS, May 06, 2024 — Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“ Planet 13 ” or the “ Company ”), a leading vertically-integrated multi-state cannabis company, today announced the closing on May 6, 2024 of its previously announced sale of Planet 13 Florida, Inc. (“ Planet 13 Florida ”), following the previously announced approval from the Florida Office of Medical Marijuana Use on April 26, 2024.
The Company sold 100% of the equity interests of Planet 13 Florida in exchange for US$9,000,000. The sale of Planet 13 Florida is a condition to the closing of the Company’s pending acquisition of VidaCann, LLC (“ VidaCann ”). The Company expects to close the VidaCann acquisition as soon as practicable in May 2024.
About Planet 13
Planet 13 ( https://planet13.com/investors/ ) is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois, and upcoming sites in Florida. Home to the nation’s largest dispensary located just off The Strip in Las Vegas, Planet 13 continues to expand its footprint. With the recent debut of its first consumption lounge in Las Vegas, DAZED!, and the opening of its first Illinois dispensary in Waukegan, bringing unparalleled cannabis experiences to the Chicago metro area, Planet 13’s mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law. Planet 13’s shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH.
