Las Vegas' newest dispensary anchored by world-class experiences and product innovation
LAS VEGAS, NV, Nov. 1, 2018 /CNW/ - Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, celebrated the grand opening of its Planet 13 Superstore today. As the world's largest cannabis dispensary, the Planet 13 Superstore offers a unique and awe-inspiring experience for visitors from around the globe. The Superstore is located at 2548 W. Desert Inn Rd., only a few steps away from the heart of the famed Las Vegas Strip.
Phase 1 of the new entertainment complex features 40,000 square feet of multi-faceted entertainment space featuring interactive attractions and 16,500 square feet of cannabis retail space with 42 registers to serve the 2,000 customers that are forecasted to visit the Superstore on a daily basis. The forecast is based on a store with a comparable location. In phases 2 and 3, Planet 13 expects to add other unique attractions.
"With Phase 1 of the project fully complete, we are proud to showcase the unparalleled interactive entertainment and product lines available for our 2,000 plus expected daily visitors," said Bob Groesbeck, Co-CEO, of Planet 13. "We have seen incredible demand from cannabis companies across Nevada wanting to showcase their product in the largest dispensary in the world. I don't think there is another dispensary with the breadth and quality of product we have here, nor a site with the potential for multi-year expansion this close to the Strip."
"Planet 13's location minutes from the Strip, positions it as one of only two stores focusing on the Las Vegas tourist market," said Larry Scheffler, Co-CEO of Planet 13. "I am confident that our diversity of products, reputation for customer service, and the true Las Vegas experience we provide will make us a must-see for a substantial portion of the 55 million tourists who visit Las Vegas every year."
As guests approach the complex they are greeted by 13, 15-foot-tall LED lotus flowers on the roof of the building. Made of acrylic leaves and metal stems, the lotus flowers can be controlled by visitors, making them an interactive piece of art. The control panels sit near the sophisticated outdoor water feature that uses vibrant LED lights with fog to create a glowing effect which can be seen from the 65,000 hotel rooms that look directly onto the Superstore location. Customers can explore these features before heading into the lobby, which is home to the interactive, sensory-activated LED flooring. The attractions continue once guests move inside the main portion of the complex where they'll view a recurring, glowing aerial orb show high above the dispensary floor. Additionally, visitors get to leave their mark on the interactive art wall, allowing them to create unique writings and drawings. Finally, the 3D Projection Visual Experience mesmerizes guests by projecting 3D visuals onto the ceiling.
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 on the OTCQB under the symbol PLNHF.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and accordingly may not be offered or sold within the United States or to "U.S. persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account or benefit of, persons in the United States or U.S. Persons.
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, among other things, future expansion plans including the opening of Phase II and III of the Superstore, and the expected number of daily visitors to the Superstore.
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.
Future Oriented Financial Information
Future-orientated financial information and financial outlook information (collectively, "FOFI") contained in this news release, as such terms are defined by applicable securities laws, is provided for the purpose of providing information about management's current expectations and plans relating to the future. FOFI contained in this news release was made as of the date of this news release and was provided for the purpose of disclosing material undisclosed information pertaining to the Company. The Company disclaims any intention or obligations to update or revise any FOFI contained in this news release unless required by applicable law. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
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. ("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 Listing Statement dated May 24, 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: Media Contacts: Latoya Bembry / Krista Gilbertson, The Ferraro Group, [email protected] / 702-278-1000, [email protected] / 702-232-4139; Investor Relations Contacts: Mark Kuindersma, Lode Rock Advisors Inc., Planet 13 Investor Relations, [email protected], 416-519-2156 ext. 2230; Robert Groesbeck or Larry Scheffler, Co-Chief Executive Officers, [email protected], 416-283-0178