Las Vegas Cannabis Powerhouse Planet 13 To Close $49M Florida Expansion Deal After Achieving Another Milestone
Planet 13 Holdings Inc. (CSE:PLTH) (OTCQX:PLNH) closed its previously announced sale of Planet 13 Florida, Inc. on Monday following the previously announced approval from the Florida Office of Medical Marijuana Use in April.
What Happened
The Las Vegas-based vertically-integrated multi-state operator (MSO) sold 100% of the equity interests of Planet 13 Florida, which owns a medical marijuana treatment center license issued by the Florida Department of Health to SGW FL Enterprises, LLC, in exchange for $9 million.
Why It Matters
The wrapping up of the sale is a condition to the closing of Planet 13’s pending acquisition of VidaCann, LLC.
Planet 13 first announced that …