Planet 13 Awarded Conditional Illinois Retail Licenses
Planet 13 Holdings (CSE:PLTH)(OTCQX:PLNHF) has announced the receipt of a Conditional Adult Use Dispensing Organization License for its Illinois operations from the Illinois Department of Financial and Professional Regulation. This license allows Planet 13 Illinois LLC to implement its dispensary plans in the lucrative Chicago-Naperville-Elgin area, known for strong cannabis sales and a large population. The company holds a 49% interest in the venture, with local partner Frank Cowan owning the remaining 51%. The license positions Planet 13 to leverage the growing demand for cannabis in Illinois.
- Awarded a Conditional Adult Use Dispensing Organization License in Illinois.
- Strategically positioned in the high-demand Chicago-Naperville-Elgin area.
- Partnership with local Frank Cowan enhances community engagement.
- None.
LAS VEGAS, NV / ACCESSWIRE / July 28, 2022 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF) ("Planet 13" or the "Company"),a leading vertically-integrated multi-state cannabis company, announces that Planet 13 Illinois LLC ("Planet 13 Illinois") has been awarded a Conditional Adult Use Dispensing Organization License in the Chicago-Naperville-Elgin region from the Illinois Department of Financial and Professional Regulation.
"After a long wait, it is great to be granted our license and to have the opportunity to move forward with our Illinois dispensary plans," said Larry Scheffler, Co-CEO of Planet 13. "The Chicago region offers significant value for cannabis operators. It has strong cannabis sales, a large population base, an attractive tourist destination, and is ready for the Planet 13 experience."
Frank Cowan added, "As a local of Illinois, I'm thrilled to partner with Planet 13 to bring the unique Planet 13 experience to my home state for my friends and family."
Planet 13 Illinois LLC is owned
For more information on Planet 13, visit the investor website.
About Planet 13
Planet 13 (www.planet13holdings.com) is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations in Las Vegas and in Orange County, California. Planet 13 also holds a medical marijuana treatment center license in Florida and a
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 applicable Canadian and U.S. 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 are forward-looking statements. [In this news release, forward looking-statements relate to the Company's Illinois adult use dispensary license.
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 needed to operate our business; risks associated with COVID-19 and other infectious diseases presenting as major health issues; fluctuations in general macroeconomic conditions; inflationary pressures; fluctuations in securities markets; expectations regarding the size of the cannabis market in the states in which we currently operate in or contemplate future operations and changing consumer habits in such states; the ability of the Company to successfully achieve its business objectives; the ability of the Company to integrate the NGW business and realize any benefits from the acquisition; plans for expansion; political and social uncertainties including international conflict; 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 states in which we currently operate in or contemplate future operations; employee relations and other risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission at www.sec.gov and on the Company's issuer profile on SEDAR at www.sedar.com and in the Company's periodic reports subsequently filed with the U.S. Securities and Exchange Commission and on SEDAR. 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further inquiries, please contact:
LodeRock Advisors Inc., Planet 13 Investor Relations
mark.kuindersma@loderockadvisors.com
Robert Groesbeck or Larry Scheffler
Co-Chief Executive Officers
ir@planet13lasvegas.com
SOURCE: Planet 13 Holdings
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FAQ
What is the significance of Planet 13 Holdings receiving the Illinois retail license?
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