Planet 13 enters the wholesale market on the back of strong performance of in-house brands at the SuperStore
All figures are reported in United States dollars ($) unless otherwise indicated
LAS VEGAS, March 11, 2020 /CNW/ - Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, today announced their brands, HaHa Gummies, Dreamland Chocolates, TRENDI, Leaf & Vine, and Medizin, (the "Brands") set a record of ~$1 million in combined sales in February.
Larry Scheffler, Co-CEO said, "Our customers have a unique connection to our products, they watch as Dreamland Chocolates are poured in front of them, as Haha Gummies are molded. Customers understand that our products are made with absolute attention to detail by people who share the same enthusiasm for cannabis as they do. This unique experience combined with our award-winning packaging1, and a product that meets the brand promise of a great tasting uplifting experience results in a product that flies off the shelf."
Planet 13 has crafted a portfolio of targeted brands addressing the most popular consumption forms and price points, specifically tailored to enhance the various Las Vegas experiences.
From a night on the town with your favorite TRENDI vape pen to a HaHa Gummies before catching one of Las Vegas award-winning shows. A relaxing day by the pool with Leaf & Vine, capped off by a Dreamland Chocolate when you are finally winding down, Planet 13 has the perfect product for your visit.
Launch of Wholesale in Nevada
The Brands are now available in select dispensaries in Las Vegas. Over the course of Q1 and Q2 2020, Planet 13 intends to rollout the Brands to dispensaries across Nevada.
"We opened our customer-facing production facility on November 1, 2019. Since then we've been steadily ramping up capacity to supply the SuperStore and to enter the wholesale market," said Bob Groesbeck Co-CEO of Planet 13. "We are launching initially with a select few dispensaries to ensure we can meet customer demand, have efficient delivery and distribution in place to cement ourselves as a trusted supplier in Nevada before we roll out our products statewide."
About Planet 13
Planet 13 (www.planet13holdings.com) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas - the entertainment capital of the world. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13's shares trade on the Canadian Stock Exchange (CSE) under the symbol PLTH and OTCQX under the symbol PLNHF.
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 the applicable Canadian 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 may be forward-looking statements. In this news release, forward looking-statements relate to, among other things, future expansion plans.
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; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Nevada cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; 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 State of Nevada; and employee relations. 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 its subsidiary MM Development Company, Inc. (or "MMDC"). Local state laws where MMDC operates permit such activities however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form dated April 30, 2019 filed on its issuer profile on SEDAR at www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Planet 13 Holdings Inc.