PLANET 13 HLDGS INC NEV - PLNH STOCK NEWS

Planet 13 Holdings Inc. (PLNH) will release its first quarter financial results on May 9, 2024, followed by a conference call discussing key business highlights, strategy, and outlook led by top executives. The Company is a prominent vertically-integrated multi-state cannabis company.

Planet 13 Holdings Inc. launches a new line of MEDIZIN branded topicals, including CBD and cannabis derived products. The topicals will be available in-store, online, and through wholesale channels. The products will be manufactured at the Planet 13 SuperStore, enhancing the customer experience. The company secured the Nevada rights to Ovation Science's patented skin delivery technology. The new topicals include MEDIZIN REST, MEDIZIN RECOVERY, MEDIZIN RELIEF, and PLANET 13 PURE CBD.

Planet 13 Holdings Inc. has received approval from the Florida Office of Medical Marijuana Use for the proposed sale of Planet 13 Florida, Inc. and the acquisition of VidaCann, , both of which own a Medical Marijuana Treatment Center License. The approval from OMMU marks the final regulatory step needed for Planet 13 to close the Transactions. The company has extended the end date of the VidaCann acquisition to May 31, 2024, and anticipates closing the Transactions in May 2024.

Planet 13 Holdings Inc. announced the opening of its new consumption lounge, DAZED!, at its flagship SuperStore in Las Vegas. DAZED! is a unique 3,000 square foot venue offering VIP booths, canna-cocktails, and entertainment, setting a new standard in cannabis entertainment.

Planet 13 Holdings Inc. reported Q4 2023 revenue of $23.0 million with a net loss of $14.3 million, including a non-cash impairment loss of $7.2 million. Adjusted EBITDA stood at $1.3 million. Despite economic uncertainties and cannabis price pressure, the company maintained a strong quarter with 9% of Nevada's retail market share and top brands in each category. The acquisition of VidaCann positions them for growth in Florida's potential adult-use market.

Planet 13 Holdings Inc. announced the pricing of its underwritten public offering, issuing 18.75 million units at $0.60 per unit, totaling approximately $11.3 million in gross proceeds. Each unit includes one common stock share and one warrant. The underwriters have a 30-day option to purchase additional shares and warrants. If exercised fully, the total gross proceeds will be around $12.9 million.

Planet 13 Holdings Inc. announced an underwritten public offering of units consisting of common stock and warrants. The company plans to use the net proceeds for working capital, acquiring additional cannabis licenses, expanding retail presence, and other capital improvements.

Planet 13 Holdings Inc. releases unaudited preliminary financial results for Q4 2023 and full year 2023, showcasing solid revenue performance, positive Adjusted EBITDA, and strategic growth plans. Despite challenges, the company maintains a strong balance sheet with over $17 million in cash and minimal debt. Key highlights include the opening of new locations in Illinois and plans for expansion in Florida and Nevada.

Planet 13 Holdings Inc. announced the appointments of Lee Fraser as Chief Administrative Officer, Tatev Oganyan as General Counsel, and Kevin Martin to the board of directors. The company emphasizes its commitment to governance, compliance, financial security, and leadership strength. Fraser's appointment reflects the company's expansion and acquisition of VidaCann. Martin is expected to enhance governance, financial practices, and audit procedures, while Oganyan will oversee legal matters and regulatory compliance. The appointments are strategic moves to maximize shareholder value and leverage opportunities in Illinois, Florida, and potential federal legislation.