LAS VEGAS, NV / ACCESSWIRE / December 23, 2020/ Planet 13 Holdings Inc. (CSE:PLTH)(OTCQB:PLNHF) (“Planet 13” or the “Company“), a leading vertically-integrated Nevada cannabis company,announced today that it has elected to accelerate the expiry date of 1,302,650 outstanding common share warrants (the “Warrants”) issued on December 4, 2018 and trading under the ticker symbol “PLTH.WT”. Each Warrant may be exercised to acquire one common share of Planet 13 (a “Common Share”) at an exercise price of CDN$3.75 per share (the “Exercise Price”), for gross proceeds to the Company of up to CDN$4,884,937.50 if all Warrants are exercised.
Under the terms of the Warrants, Planet 13 is permitted to accelerate the expiry date of the Warrants if the daily volume weighted average closing price of the Common Shares on the Canadian Securities Exchange is equal to or greater than CDN$5.00 for any 20 consecutive trading day period (the “Acceleration Trigger”). Planet 13 is pleased to confirm that an Acceleration Trigger occurred as of December 18, 2020. Accordingly, Planet 13 has chosen to accelerate the expiry time of the Warrants to 5:00 p.m. (Toronto time) on January 28, 2021 (the “Accelerated Expiry”). Notice of the Accelerated Expiry will be given to the Odyssey Trust Company, the warrant agent, and all registered holders of Warrants effective December 22, 2020, in accordance with the terms of the warrant indenture governing the Warrants.
For more information on Planet 13, visit the investor website.
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