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Planet 13 Holdings Inc
Symbol PLTH
Shares Issued 325,163,800
Close 2024-06-12 C$ 0.75
Market Cap C$ 243,872,850
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Planet 13 appoints Loop as director

2024-06-12 19:04 ET - News Release

Mr. Robert Groesbeck reports

PLANET 13 ANNOUNCES THE APPOINTMENT OF DAVID LOOP TO THE BOARD OF DIRECTORS

Planet 13 Holdings Inc. has appointed David Loop, the former chief executive officer of VidaCann LLC, to Planet 13's board of directors.

"We are thrilled to welcome David to the board. He has been amazing to work with as we integrate VidaCann and welcome the team to Planet 13. His deep knowledge of the cannabis and horticulture industry are a fantastic addition to the board as we continue to execute our growth strategy, build out Florida and expand our wholesale position," said Larry Scheffler co-chief executive officer of Planet 13.

Mr. Loop has spent his entire career in the horticulture industry, including as CEO of Loop Nursery. As CEO of Loop Nursery, he played a pivotal role in its expansion to become the largest supplier of potted plants to supermarkets across the southeastern United States, while simultaneously establishing it as one of the premier greenhouse facilities in the United States. He was instrumental in founding VidaCann and spearheading its growth into the ninth-largest Florida retail network. Under his guidance, VidaCann has experienced remarkable per-store revenue growth over the past two years, solidifying its position as a leader in the state.

Mr. Loop was nominated by VidaCann to join the board of directors of Planet 13 as part of the acquisition of VidaCann by Planet 13. Concurrently, Lee Fraser will step down from the board of directors to focus on his role as chief administrative officer of Planet 13.

"We appreciate Lee continuing to grow his operating role and responsibilities at Planet 13. He has quickly made himself an irreplaceable driver of our growth strategy and executive team," said Bob Groesbeck, co-chief executive officer of Planet 13.

About Planet 13 Holdings Inc.

Planet 13 is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois and Florida. 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 under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH.

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