Planet 13 Announces Results of Annual General Meeting

(Moderate)

(Neutral)

Rhea-AI Summary

Planet 13 Holdings announced the results of its Annual General Meeting held on June 10, 2025. All directors were successfully re-elected with approval rates ranging from 73.4% to 95.7%, with David Loop receiving the highest approval at 95.7% and Robert Groesbeck the lowest at 73.4%. Shareholders approved an amendment to the company's 2023 Equity Incentive Plan, increasing the authorized shares for issuance from 22 million to 32 million, with 81.5% voting in favor. Additionally, Davidson & Company LLP was ratified as the company's independent registered public accounting firm with 91.9% approval.

Positive

High approval rates (over 89%) for most board members indicating strong shareholder confidence
Strong support (81.5%) for increasing equity incentive plan capacity by 10 million shares
Overwhelming approval (91.9%) for auditor appointment showing trust in financial oversight

Negative

Relatively low approval rate (73.4%) for Robert Groesbeck compared to other board members
Significant share dilution potential with 10 million additional shares authorized for equity incentive plan

News Market Reaction – PLNH

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-2.56% Session move

In the trading session that priced this news, PLNH declined 2.56%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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06/11/2025 - 07:48 PM

LAS VEGAS, June 11, 2025 (GLOBE NEWSWIRE) -- Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), a leading vertically-integrated multi-state cannabis company, today announced the following results for each item of business considered at Planet 13’s Annual General Meeting of Stockholders held on Tuesday, June 10, 2025.

Election of Directors

The following table sets out the percentage of shares voted in respect of the election of directors:

Nominee	% For	% Withheld
Robert Groesbeck	73.4%	26.6%
Larry Scheffler	93.7%	6.3%
Adrienne O’Neal	94.1%	5.9%
Kevin Martin	89.7%	10.3%
David Loop	95.7%	4.3%

Amendment to Planet 13 Holdings Inc.’s 2023 Equity Incentive Plan.

The following table sets out the percentage of shares of common stock voted in respect to the approval of the amendment to Planet 13 Holdings Inc.’s 2023 Equity Incentive Plan to increase the number of shares of common stock authorized for issuance thereunder from 22,000,000 to 32,000,000:

For	Against	Abstain
81.5%	18.3%	0.2%

Re-Appointment and Remuneration of Auditors

The following table sets out the percentage of shares of common stock voted in respect to the ratification of the appointment of Davidson & Company LLP as the independent registered public accounting firm of the Company for the ensuing year or until their successors are appointed:

For	Against	Abstain
91.9%	7.9%	0.2%

About Planet 13

Planet 13 (https://planet13.com) is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois, and Florida. Home to the nation's largest dispensary, located just off The Strip in Las Vegas, Planet 13 continues to expand its footprint with the recent debut of its first consumption lounge in Las Vegas, DAZED!, the opening of its first Illinois dispensary in Waukegan, bringing cannabis experiences to the Chicago metro area. Planet 13 operates dispensaries across Florida, a key market in its expansive footprint. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law. Planet 13's shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH. To learn more, visit planet13.com.

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

FAQ

What were the voting results for Planet 13's (PLNH) 2025 Annual General Meeting?

All directors were elected with approval rates between 73.4% and 95.7%. The equity incentive plan amendment passed with 81.5% approval, and the auditor appointment was ratified with 91.9% support.

How many new shares were authorized under Planet 13's amended 2025 equity incentive plan?

The amendment increased authorized shares from 22 million to 32 million, adding 10 million new shares for potential issuance under the equity incentive plan.

Which Planet 13 director received the highest and lowest approval votes in 2025?

David Loop received the highest approval at 95.7%, while Robert Groesbeck received the lowest at 73.4%.

Who was appointed as Planet 13's auditor for 2025?

Davidson & Company LLP was ratified as Planet 13's independent registered public accounting firm with 91.9% shareholder approval.