Planet 13 dis­ap­pointed with Ne­vada li­cence out­come

Stockwatch Daily - - CONSUMER GOODS - Mr. Bob Groes­beck re­ports

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

(PLTH) Shares: 119,439,400

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