LAS VEGAS, March 11, 2019 /CNW/ - Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, announced today that it has begun construction of a 2,000 sq. ft. Event Space, a part of the Phase II expansion of the Planet 13 Cannabis Entertainment Complex (the "SuperStore"). After successfully hosting VR Fest during the Consumer Electronics Show ("CES") Planet 13 has fielded a substantial number of requests to host various other events, including corporate events, conferences, and weddings. The Event Space will have the capacity to host up to 200 people and have the ability to expand capacity utilizing the coffee shop and bistro to host fully catered events for up to 350 people.
"During the two days that we hosted VR Fest, we had over 3,000 people in the SuperStore each day. Las Vegas brings people from all over the world together to attend unique events and personal celebrations each year. By building-out our Superstore footprint to host a selection of these gatherings in a super-premium environment centered around a holistic cannabis experience, we will give these visitors lasting memories, generate additional revenue and accelerate our brand extension efforts both nationally and internationally," said Larry Scheffler, Co-CEO of Planet 13. "We view each event we host as an opportunity to showcase our brands and create a lasting memory. There is nothing like our Superstore anywhere in the world, and as our reputation has grown, we have experienced growing demand for a premium event space, located within walking distance of the Las Vegas Strip, to host everything from weddings to smaller conferences. We guarantee that you'll remember your event, the Superstore and the TRENDI vape that was with you the whole time."
The Phase II expansion of the Superstore will include a coffee shop, bistro/pizzeria, an event space, and a consumer-facing production facility. Every part of the Phase II expansion is designed to enhance the customer experience and entertainment value of the SuperStore, driving more traffic and creating a memorable experience for every visitor. The goal of the SuperStore is to drive the largest most diverse customer base of any dispensary in the world making it the perfect introductory point for new brands and the only one that can develop brand equity with customers across the United States and the world. All of Phase II, including the Event Space, is expected to be completed Q3 2019.
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 OTCQB 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 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 October 18, 2018 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.
For further information: LodeRock Advisors Inc., Planet 13 Investor Relations, firstname.lastname@example.org, 416-283-0178; Robert Groesbeck or Larry Scheffler, Co-Chief Executive Officers, email@example.com, 416-283-0178