Planet 13 Wraps Up VidaCann Acquisition To Enter Florida Market With $63.4M Deal And 26 Cannabis Dispensaries
Las Vegas-based cannabis giant, Planet 13 Holdings Inc. (OTC:PLNH), has successfully concluded its acquisition of Florida’s VidaCann, a prominent player in the state’s medical marijuana market. The acquisition received approval from the Florida Office of Medical Marijuana Use in April. This represents a significant expansion as recreational cannabis legalization in Florida will be decided in the November 2024 ballot.
Strategic Deal Structure
As part of the deal, according to a press release shared with Benzinga, Planet 13 will acquire VidaCann from its previous owners in exchange for 81,872,252 shares of Planet 13’s common stock, approximately $4 million in …