Planet 13 Adds Non-Cannabis Retail to the SuperStore

Rhea-AI Summary

Planet 13 Holdings (CSE:PLTH)(OTCQX:PLNHF) announced the addition of a non-cannabis retail store at its Las Vegas SuperStore. This move is designed to enhance customer experience by relocating existing merchandise to a dedicated area, allowing more registers for dispensary traffic, which averages 3,000 visitors daily. The store will sell various items, including Planet 13 merchandise and other sundries. Notably, 30,000 sq. ft. remain undeveloped for future expansions, including more dispensary space and a cannabis consumption lounge pending regulatory approval.

Positive

• Addition of a non-cannabis retail store to enhance customer experience.
• Strategic relocation of merchandise to improve dispensary traffic efficiency.
• Current average visitor count of 3,000 per day indicates strong foot traffic.
• 30,000 sq. ft. of undeveloped space available for future expansion.

Negative

• None.

LAS VEGAS, NV / ACCESSWIRE / October 13, 2020 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, today announced it is adding a non-cannabis retail store within its Las Vegas SuperStore location. The non-cannabis retail store will be a one-stop-shop for everything necessary for an enjoyable weekend or weekday in Las Vegas.

All non-cannabis Planet 13 merchandise will be moved from the dispensary floor to the non-cannabis retail area to allow more available registers to handle the overwhelming traffic in the dispensary area.

"We continue to build out the SuperStore as a one-stop-shop and entertainment destination for any visit to the Las Vegas strip. Every day we work to improve the retail and entertainment experience to attract more visitors and to keep them in the store longer," said Bob Groesbeck, Co-CEO of Planet 13. "Even during the COVID-19 pandemic we've still seen almost 3,000 visitors per day. We have a tremendous opportunity to build out the rest of the Las Vegas SuperStore's footprint to maximize the revenue we are able to generate from those visitors."

The non-cannabis retail store will sell Planet 13 merchandise along with general sundries. With the addition of the non-cannabis retail space there is still 30,000 sq. ft. of unbuilt space at the Las Vegas SuperStore. The remaining area is being held for additions to the dispensary floor, future retail opportunities, and a cannabis consumption lounge and night club when regulations allow.

For further inquiries, please contact:
LodeRock Advisors Inc., Planet 13 Investor Relations
mark.kuindersma@loderockadvisors.com
(416) 519-2156 ext. 2230

Robert Groesbeck or Larry Scheffler
Co-Chief Executive Officers
ir@planet13lasvegas.com

About Planet 13
Planet 13 (www.planet13holdings.com) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas - the entertainment capital of the world. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13's shares trade on the Canadian Stock Exchange (CSE) under the symbol PLTH and OTCQX under the symbol PLNHF.

Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking-statements relate to, among other things, Planet 13's first California location and the timeline for opening of the Santa Ana dispensary.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: final regulatory and other approvals or consents; risks associated with COVID-19 and other infectious diseases presenting as major health issues; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Nevada and California cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in the State of Nevada and California; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States through licensed subsidiary entities in states that have legalized marijuana operations, however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company's business, including COVID-19, are contained under the heading "Risk Factors" and elsewhere in the Company's annual information form dated April 13, 2020 filed on its issuer profile on SEDAR at www.sedar.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE: Planet 13 Holdings Inc.

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https://www.accesswire.com/610195/Planet-13-Adds-Non-Cannabis-Retail-to-the-SuperStore

FAQ

What is the latest news from Planet 13 Holdings (PLNHF)?

Planet 13 announced a new non-cannabis retail store at its Las Vegas SuperStore, enhancing the customer experience.

How many visitors does Planet 13 receive daily?

Planet 13 receives an average of 3,000 visitors per day at its Las Vegas SuperStore.

What are the future plans for the Las Vegas SuperStore?

The SuperStore has 30,000 sq. ft. of undeveloped space for future retail opportunities and a cannabis consumption lounge.

What merchandise will be sold in the new retail area?

The non-cannabis retail store will sell Planet 13 merchandise along with general sundries.