Planet 13 Streamlines Footprint to Focus on Core Growth Markets
Planet 13 (OTCQX: PLNH) on Nov 3, 2025 announced the divestiture of its non-core Orange County, California retail store and the closure of its Coalinga cultivation facility as part of a strategy to focus on higher‑performing markets.
The company said California operations were cash‑flow negative and not aligned with long‑term objectives. Planet 13 will continue investing in Nevada and Florida and pursue disciplined opportunities to enhance shareholder value. Proceeds are described as not material but expected to strengthen liquidity. The Orange County license sale is subject to customary closing conditions and regulatory approvals and is expected to close in approximately three to four months. The Coalinga facility is expected to wind down by end of 2025.
Planet 13 (OTCQX: PLNH) il 3 novembre 2025 ha annunciato la cessione del suo negozio al dettaglio non core nel Orange County, California e la chiusura della sua coltivazione a Coalinga come parte di una strategia per concentrarsi su mercati ad alte prestazioni.
L'azienda ha dichiarato che le operazioni in California generano flussi di cassa negativi e non sono allineate con gli obiettivi a lungo termine. Planet 13 continuerà a investire in Nevada e Florida e perseguirà opportunità disciplinate per aumentare il valore per gli azionisti. I proventi non sono descritti come significativi ma si prevede che rafforzino la liquidità. La vendita della licenza di Orange County è soggetta alle consuete condizioni di closing e approvazioni regolamentari ed è prevista chiudersi in circa tre/quattro mesi. Si prevede che l’impianto di Coalinga si chiuda entro la fine del 2025.
Planet 13 (OTCQX: PLNH) anunció el 3 de noviembre de 2025 la desinversión de su tienda minorista en Orange County, California, que no forma parte de su negocio principal, y el cierre de su instalación de cultivo en Coalinga, como parte de una estrategia para centrarse en mercados de mayor rendimiento.
La empresa dijo que las operaciones en California son negativas en flujo de caja y no están alineadas con los objetivos a largo plazo. Planet 13 continuará invirtiendo en Nevada y Florida y buscará oportunidades disciplinadas para mejorar el valor para los accionistas. Los ingresos se describen como no significativos pero se espera que fortalezcan la liquidez. La venta de la licencia de Orange County está sujeta a las condiciones de cierre habituales y aprobaciones regulatorias y se espera que cierre en aproximadamente tres a cuatro meses. Se espera que la instalación de Coalinga se cierre para finales de 2025.
Planet 13 (OTCQX: PLNH)는 2025년 11월 3일에 비핵심인 캘리포니아주 오렌지 카운티 소매점 매각 및 Coalinga 재배 시설의 폐쇄를 전략의 일환으로 발표했습니다. 더 높은 성과를 내는 시장에 집중하기 위함입니다.
회사는 캘리포니아 운영이 현금 흐름상 음수이며 장기 목표와도 일치하지 않는다고 밝혔습니다. Planet 13은 네바다와 플로리다에 계속 투자하고 주주 가치를 높이기 위한 규율 있는 기회를 추구할 것입니다. 수익은 비중요한 것으로 설명되며 유동성을 강화할 것으로 예상됩니다. Orange County 라이선스 매각은 일반적인 종결 조건 및 규제 승인을 전제로 하며 대략 3~4개월 내에 완료될 것으로 예상됩니다. Coalinga 시설은 2025년 말까지 점진적으로 축소될 것으로 예상됩니다.
Planet 13 (OTCQX: PLNH) a annoncé le 3 novembre 2025 la cession de son magasin de détail non cœur de métier à Orange County, Californie, et la fermeture de son installation de culture à Coalinga dans le cadre d'une stratégie visant à se concentrer sur des marchés à plus forte performance.
L'entreprise a déclaré que les opérations en Californie étaient négatives en flux de trésorerie et ne correspondaient pas aux objectifs à long terme. Planet 13 continuera d'investir dans Nevada et Floride et cherchera des opportunités disciplinées pour améliorer la valeur pour les actionnaires. Les produits ne sont pas décrits comme non significatifs mais devraient renforcer la liquidité. La vente de la licence d'Orange County est soumise aux conditions de closing usuelles et aux approbations réglementaires et devrait se clôturer dans environ trois à quatre mois. L'installation de Coalinga devrait être réduite d'ici la fin 2025.
Planet 13 (OTCQX: PLNH) gab am 3. November 2025 den Verkauf seines nicht zum Kerngeschäft gehörenden Einzelhandelsgeschäfts in Orange County, Kalifornien, sowie die Schließung seiner Cultivation-Anlage in Coalinga bekannt, als Teil einer Strategie, sich auf leistungsstärkere Märkte zu konzentrieren.
Das Unternehmen sagte, Kalifornien-Operationen seien cash-flow-technisch negativ und nicht mit den langfristigen Zielen vereinbar. Planet 13 wird weiter in Nevada und Florida investieren und disziplinierte Möglichkeiten verfolgen, um den Wert für die Aktionäre zu steigern. Die Erlöse werden als nicht bedeutsam beschrieben, aber voraussichtlich die Liquidität stärken. Der Verkauf der Orange County-Lizenz unterliegt üblichen Closing-Bedingungen und behördlichen Genehmigungen und soll voraussichtlich in ca. drei bis vier Monaten abgeschlossen werden. Die Coalinga-Anlage wird voraussichtlich bis Ende 2025 stillgelegt.
Planet 13 (OTCQX: PLNH) أعلن في 3 نوفمبر 2025 عن بيع متجر التجزئة غير الأساسي في مقاطعة أورانج، كاليفورنيا، وإغلاق مرافق الزراعة في كوولينغا كجزء من استراتيجية للتركيز على الأسواق ذات الأداء الأعلى.
قالت الشركة إن عمليات كاليفورنيا كانت سلبية التدفق النقدي ولم تتوافق مع الأهداف طويلة الأجل. ستواصل Planet 13 الاستثمار في نيفادا وفلوريدا وستسعى لفرص منهجية لتعزيز قيمة المساهمين. يوصف العائد بأنه غير مادي لكنه من المتوقع أن يعزز السيولة. البيع لرخصة مقاطعة أورانج خاضع للشروط المعتادة للإغلاق والموافقات التنظيمية ومن المتوقع أن يغلق خلال نحو ثلاثة إلى أربعة أشهر. من المتوقع أن يتلاشى مرفق كوولينغا بنهاية 2025.
- Refocus on core markets: Nevada and Florida
- Transaction proceeds to strengthen balance sheet
- Targeted cost reduction via Coalinga closure by end 2025
- California operations were cash‑flow negative
- Orange County sale subject to regulatory approval and closing conditions
- Loss of California retail and cultivation capacity may reduce near‑term revenue
Planet 13 Divests Non-Core Orange County Store and Closes Coalinga Cultivation Facility
LAS VEGAS, Nov. 03, 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 divestiture of its non-core Orange County, California retail store and the closure of its cultivation facility in Coalinga, California.
These actions mark another step in Planet 13’s strategy to focus resources on its highest-performing markets and to position the Company for long-term growth and profitability. Planet 13 will continue to invest in expanding its presence in Nevada and Florida while pursuing disciplined opportunities that enhance shareholder value.
“This reflects our continued commitment to disciplined capital allocation and operational efficiency.” said Bob Groesbeck, Co-CEO of Planet 13. “By concentrating our efforts on our strongest markets, we’re building a more focused, efficient, and resilient company that’s well-positioned for future expansion.”
The Company’s California operations, which represented a small portion of the Company’s overall revenue, were cash-flow negative and no longer aligned with Planet 13’s long-term objectives. Proceeds from the transaction, while not material, will help further strengthen the Company’s balance sheet, liquidity and enable investment in core markets.
“We’re grateful to our dedicated California team members for their contributions and professionalism during this transition,” added Larry Scheffler, Co-CEO of Planet 13.
The sale of the Orange County retail license is subject to customary closing conditions and regulatory approvals. The Company expects the transaction to close within approximately three to four months. The Coalinga facility is expected to wind down operations by the end of 2025.
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 unparalleled cannabis experiences to the Chicago metro area. Planet 13 operates 33 dispensaries across Florida, a key market in its expansive footprint, bringing its total to 37 locations nationwide. 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 and follow Planet 13 on X @ShopPlanet13 and on Instagram @planet13official_.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are often, but not always, identified by phrases such "plans", "expects", "proposed", "may", "could", "would", "intends", "anticipates", or "believes", or variations of such words and phrases. In this news release, forward-looking statements relate to the divestiture and winding down of operations in California and Planet 13’s ability to realize the anticipated benefits of the proposed transaction, information concerning the timing and completion of the proposed transaction, the timing and anticipated receipt of required regulatory approvals for the proposed transaction and the satisfaction of other customary closing conditions. Such forward-looking statements reflect what management of the Company believes, or believed at the time, to be reasonable assumptions and accordingly readers are cautioned not to place undue reliance upon such forward-looking statements and that actual results may vary from such forward-looking statements. These assumptions, risks and uncertainties which may cause actual results to differ include, among others, those assumptions, 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, 2024 and any of the Company's subsequent periodic reports filed with the U.S. Securities and Exchange Commission at www.sec.gov and on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made only as to the date of this press release and we assume no obligation to update or revise any forward-looking statements should they change, except as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further inquiries, please contact:
Planet 13 Investors:
Robert Groesbeck or Larry Scheffler
Co-Chief Executive Officers
ir@planet13lasvegas.com
Planet 13 Media:
Colin Trethewey / PRmediaNow Communications
Colin@PRmediaNow.com
FAQ
What did Planet 13 (PLNH) announce on November 3, 2025?
When does Planet 13 expect the Orange County retail sale to close?
When will Planet 13 wind down the Coalinga cultivation facility?
How will the divestiture affect Planet 13’s market focus?
Will the proceeds from the Orange County sale be material to PLNH?
Are there regulatory risks that could delay the PLNH Orange County sale?
