Welcome to our dedicated page for Planet 13 Hldgs news (Ticker: PLNH), a resource for investors and traders seeking the latest updates and insights on Planet 13 Hldgs stock.
Planet 13 Holdings Inc. (PLNH) is a vertically integrated cannabis leader combining cultivation, production, and flagship dispensary operations with immersive retail experiences. This page aggregates official news releases and verified updates critical for tracking the company’s strategic developments in the evolving cannabis market.
Investors and industry observers will find timely updates on earnings reports, expansion initiatives, regulatory compliance, and product launches. The curated collection serves as a centralized hub for monitoring PLNH’s operational milestones across Nevada, California, Illinois, and Florida.
Content spans acquisitions, partnership announcements, and innovations in consumer engagement like the Planet 13 Fight Club. Each update reflects the company’s commitment to merging cannabis accessibility with lifestyle-driven retail.
Bookmark this page for streamlined access to PLNH’s latest developments. Check back regularly for authoritative updates directly from corporate sources and verified industry publications.
On June 11, 2024, Planet 13, a leading multi-state cannabis company, announced the results of its Annual General Meeting of Stockholders. Key outcomes include the election of directors, with Robert Groesbeck, Larry Scheffler, Lee Fraser, Adrienne O’Neal, and Kevin Martin receiving between 97.31% and 99.33% of votes in favor. Additionally, Davidson & Company LLP was ratified as the independent public accounting firm with 99.25% support. Planet 13 operates in California, Nevada, Illinois, and Florida, focusing on cultivation, production, and dispensary operations. The company aims to build a global brand known for its dispensary operations and innovative cannabis products.
Planet 13 Holdings, a leading multi-state cannabis company, announced preliminary unaudited Q1 2024 financial results for recently acquired VidaCann. The results show significant year-over-year improvements in cultivation and retail, with total revenue at $12.51 million and a gross profit of $5.58 million (45% margin). Operating expenses were reported at $2.98 million (24% of revenue). VidaCann posted a net income before taxes of $2.48 million and an adjusted EBITDA of $2.75 million (22% margin). The acquisition is expected to enhance Planet 13's profitability and cash flow as they plan to open more dispensaries in Florida and introduce new product formats.
Planet 13 Holdings Inc. has completed the acquisition of VidaCann, , after receiving approval from the Florida Office of Medical Marijuana Use and selling all equity interests in Planet 13 Florida, Inc. The acquisition was valued at approximately US$63.4 million, with the consideration including shares of common stock, cash, and promissory notes. VidaCann's former CEO will join Planet 13's board of directors, and there are resale restrictions on the shares issued.
Planet 13 Holdings Inc. announced Q1 2024 financial results with revenue of $22.9 million and a net loss of $5.9 million. They are capitalizing on the rescheduling from schedule I to III for better cash flow. The company aims to grow its Neighborhood store network to offset Nevada market decline. Financially, revenue decreased 8.2%, with a gross profit of $10.5 million and total expenses of $14.1 million. Adjusted EBITDA loss improved due to better gross margin and cost control.
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.
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