Planet 13 Holdings Inc. reports developments for a vertically integrated cannabis operator with cultivation, production and dispensary operations in Nevada, Illinois and Florida. Company news commonly covers quarterly financial results, release schedules, business highlights, strategy and market-footprint updates across its retail, wholesale and production activities.
Recurring updates also include the Las Vegas dispensary and DAZED! consumption lounge, the Waukegan, Illinois dispensary, Florida dispensary operations, customer programs such as Planet 13 Rewards, board and committee composition, equity compensation grants and portfolio streamlining after the company’s California exit. Its releases frame cannabis operations within state licensing regimes while noting the continuing conflict with U.S. federal law.
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) has launched its non-cannabis touching Lifestyles brand company and announced its first sponsored athlete, UFC star Chito Vera. The partnership comes just before Vera's upcoming fight on August 3, 2024, at UFC Abu Dhabi, broadcast live on ABC TV. As part of the deal, Vera will promote Planet 13 Fight Club, the company's combat sports-themed division, through social media, podcasts, and event appearances.
The Lifestyles brand strategy aims to expand Planet 13's reach beyond cannabis into mainstream culture, including sports, music, fashion, and entertainment. This move allows Planet 13 to grow globally without the restrictions placed on cannabis products in certain jurisdictions. The company's new Planet 13 Fight Club apparel and gear line, along with the full Lifestyles collection, is available on the Planet 13 Lifestyles website.
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH), a leading vertically-integrated multi-state cannabis company, has announced the release date for its second quarter 2024 financial results. The company plans to disclose its financial performance for the quarter ended June 30th, 2024, on August 8th, 2024, after market close.
Following the release, Planet 13 will host a conference call to discuss the Q2 results and provide investors with key business highlights, strategy, and outlook. The call will be led by Bob Groesbeck (Co-CEO), Larry Scheffler (Co-CEO), and Dennis Logan (CFO). Investors can participate in the call using the provided toll-free and international dial-in numbers, with an access code of 485073. A replay of the call will also be available.
Planet 13 Holdings announced the launch of Planet 13 FIGHT CLUB and the first Planet 13 FIGHT WEEK, from June 26 to June 29, 2024, coinciding with UFC International Fight Week. The event will feature meet and greets with MMA stars and culminate in a UFC 303 Watch Party at DAZED! Consumption Lounge. The FIGHT CLUB will introduce apparel and MMA gear under the new Planet 13 Lifestyle brand, available for purchase on their e-commerce site launching during Fight Week. Notable MMA fighters and celebrities, including Mike Tyson, will participate.
Planet 13 Holdings (CSE: PLTH, OTCQX: PLNH), a leading multi-state cannabis company, has appointed David Loop to its board of directors. Loop, the former CEO of VidaCann, brings his extensive horticulture and cannabis industry experience to Planet 13, particularly as the company integrates VidaCann and expands in Florida. Under Loop’s leadership, VidaCann became one of the largest retail networks in Florida, with significant per store revenue growth. Lee Fraser will step down from the board to focus on his role as Chief Administrative Officer of Planet 13.
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.