Planet 13 executives were not immediately available for comment on what that means for the company’s Orlando presence. The former equityholders of VidaCann and its 9496 7346 Quebec Inc. adviser will have an approximately 26.09% pro forma ownership in Planet 13. The deal is valued at $48.9 million and includes 78.46 million base shares of Planet 13, a closing cash payment and promissory notes. A Las Vegas company with plans for a cannabis “SuperStore” in Orlando will buy a Florida company. Why this matters: The deal likely will drive Planet 13’s expansion in Florida.
A Las Vegas company with plans for a cannabis “SuperStore” in Orlando will buy a Florida company.
Planet 13 Holdings Inc. entered into a purchase agreement on Aug. 28 for the ownership interests of Jacksonville-based VidaCann LLC. The proposed deal includes 26 VidaCann dispensaries, including two in Orlando, as well as a distribution and growing facility that can support 60 dispensaries.
The deal is valued at $48.9 million and includes 78.46 million base shares of Planet 13, a closing cash payment and promissory notes....
Read the full article @ Cannabis Law Report