PLANET 13 HLDGS INC NEV - PLNH STOCK NEWS

Planet 13 Holdings Inc. provided an update on a dispute involving El Capitan Advisors, Inc., where approximately $5.5 million of the company's funds were directed to the Orange County Sheriff's Office due to a default judgment obtained by Casa Verde Capital. The company has secured a partial settlement with Casa Verde for the release of $3.4 million of the funds and initiated a lawsuit seeking approximately $16.5 million in compensatory damages and other relief. The company is vigorously pursuing its rights against the defendants and conducting an internal investigation. Despite near-term expenses, the incident is not expected to have a material impact on the company's current business operations or its ability to fund ongoing operations.

Planet 13 Holdings Inc. will hold its 2024 Annual Meeting on June 11, 2024, using a hybrid meeting format. Shareholders of record as of April 12, 2024, are entitled to notice of and to vote at the meeting. The company will provide additional details in its proxy statement to be filed with the SEC. Shareholder proposals and nominations for directors must be submitted by specific deadlines.

Planet 13 Holdings Inc. has entered into a stock purchase agreement to sell all of the issued and outstanding shares of common stock of Planet 13 Florida, Inc. to SGW FL Enterprises, LLC. The sale of the medical marijuana treatment center license is a closing condition to the Company's previously announced proposed acquisition of VidaCann, LLC. The Company will sell the shares for a cash payment of US$9,000,000 due on closing, expected to close in the first quarter of 2024.

Planet 13 Holdings Inc. (PLTH) subleases a 500 square foot portion of the Las Vegas SuperStore to Koolsville Tattoo Shop, a prominent Las Vegas based Tattoo chain. This move is in line with the company's strategic goal to add attractions and increase utilization of the SuperStore footprint. The addition of Koolsville is expected to drive additional traffic to the SuperStore and enhance the customer experience. Koolsville will be the closest location to the strip and is anticipated to be their busiest. The newest attraction is set to open in Q1 2024, further expanding Planet 13's unique entertainment options.

Planet 13 Holdings Inc. (PLTH) announces the opening of its fourth dispensary, located in Waukegan, Illinois, on December 4, 2023. The 4,000 square foot dispensary is strategically placed in a shopping and entertainment district near Chicago, with high revenue growth expectations for 2024. Co-CEOs Larry Scheffler and Bob Groesbeck express excitement and confidence in the potential of the Illinois market and the company's expansion.

Planet 13 Holdings Inc. (PLTH) provided an update on a dispute involving US$35.0 million and potential misappropriation of funds by El Capitan Advisors, Inc. The company is taking legal action and engaging in an internal investigation to reclaim the funds. Despite near-term expenses, Planet 13 does not anticipate a material impact on its business or liquidity requirements.

Planet 13 Holdings Inc. (PLTH) Announces Settlement Agreement with SDC Parties. The leading multi-state cannabis company has agreed to pay a cash payment of US$300,000 and issue 1,000,000 shares of common stock to settle Legal Actions. The total settlement amount is approximately US$1,174,316.94. The Settlement Shares will be subject to resale restrictions under applicable U.S. and Canadian securities laws.

Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNH) announced Q3 2023 revenue of $24.8 million, a net loss of $46.0 million (including a non-cash impairment loss of $39.6 million), and adjusted EBITDA of $0.2 million. The company's financial results reflect a decrease in revenue and an increase in total expenses, with plans to expand retail experience and brands to Illinois and Florida.

Planet 13 Holdings Inc. unveils plans for DAZED!, a high-end consumption lounge at the Las Vegas SuperStore. The lounge will feature VIP booths, canna-cocktails, and unique bong chandeliers. With 3,000 square feet of space, DAZED! aims to redefine the cannabis experience for tourists and locals. The lounge is expected to open on April 20, 2024.