Planet 13 disappointed with Nevada licence outcome
PLANET 13 Holdings Inc. did not receive any additional licence sin the most recent round of Nevada licensing.
“Obviously, we are disappointed in the results of this round of licensing, but daily sales and average ticket at the superstore continue to track above our internal expectations and we still have significant near and long-term growth ahead of us,” said Bob Groesbeck, co-chief executive officer of Planet 13. “We are evaluating the most prudent path forward for our Medizin location and will continue to focus our near-term efforts on driving solid financial returns for shareholders from the superstore, both out of its current footprint and through profitable expansion into the full 112,000-square-foot available area on the site. We fully expect that as the superstore continues to ramp up, not only will it generate capital for additional growth initiatives but the associated brand recognition will also enable expansion opportunities into additional locations over time. We are well capitalized to execute on the opportunities in front of us and once again thank our loyal shareholders for their continued support.”
We seek Safe Harbor.
Robert Groesbeck, Michael Harman, Marc Edward Lustig, Larry Scheffler, Greg Wilson
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