Las Vegas' new dispensary will be anchored by world-class experiences
and product innovation
LAS VEGAS, July 19, 2018 /CNW/ - Planet 13 Holdings Inc. (CSE: PLTH) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company announced today the official groundbreaking at its Planet 13 Superstore. Anticipated to be among the world's largest cannabis dispensaries, Planet 13 Superstore will offer visitors from around the globe a unique experience when the destination opens in November 2018. Planet 13 Superstore will be located at 2548 W. Desert Inn Rd., only a few steps away from the famed Las Vegas Strip.
Brought to life by Co-CEOs Robert Groesbeck and Larry Scheffler, the new entertainment complex will be unveiled in phases, with the first phase to be completed and open to the public in November 2018. Phase 1 will be more than 40,000 square feet and includes a multi-faceted entertainment space featuring interactive attractions and more than 16,500 square feet of cannabis retail space.
"We have already generated a loyal following of Las Vegas customers at our current dispensary location and we are confident that the Superstore will be a strong draw for the 55 million visitors from around the world that come to the city each year," said Robert Groesbeck, Co-CEO and board member of Planet 13. "With Phase 1 of the project fully funded, under construction, and on time, we are excited to showcase the unparalleled interactive entertainment and product lines we will have available for guests in the coming months."
The new destination will weave together an unparalleled dispensary experience, complete with 45-50 registers to serve the large number of anticipated visitors with state-of-the-art technology and interactive entertainment. As guests approach the complex they will be 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 interactive pieces of art. The control panels will be located near the sophisticated outdoor water feature that is branded Planet 13. Customers can explore these features before heading into the lobby where they can experience the sensory-activated LED flooring that creates an interactive show while guests are walking on it. The attractions continue once guests move inside the main portion of the complex where they'll view a glowing aerial orb show high above the dispensary floor. There's also interactive laser graffiti where visitors can leave their mark with unique writings and drawings. Guests also will be mesmerized by the 3D Projection Visual Experience where numerous 3D visuals are projected onto walls.
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.
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 and the opening of Phase I of the Superstore in November 2018.
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 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
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: Jonathan Ross, Lode Rock Advisors Inc., Planet 13 Investor Relations, [email protected], 416-283-0178; Robert Groesbeck or Larry Scheffler, Co-Chief Executive Officers, [email protected], 416-283-0178