Planet 13 Announces Closing of C$23 Million Bought Deal Public Offering – Yahoo Finance

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LAS VEGAS, NV / ACCESSWIRE / September 10, 2020 / Planet 13 Holdings Inc. (“Planet 13” or the “Company”) (CSE:PLTH)(OTCQX:PLNHF), a leading vertically-integrated Nevada cannabis company, is pleased to announce that it has completed its previously announced bought deal financing for aggregate gross proceeds of C$23,019,550 (the “Offering”). A total of 6,221,500 units (the “Units”) of the Company were sold pursuant to the Offering, including an aggregate of 811,500 Units issued as a result of the full exercise of the Underwriters’ (as defined herein) over-allotment option (the “Over-Allotment Option”), at a price of C$3.70 per Unit. The Offering was conducted by a syndicate of underwriters co-led by Beacon Securities Limited and Canaccord Genuity Corp. (collectively, the “Underwriters”).

Each Unit consists of one common share (a “Common Share”) in the capital of the Company and one- half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of C$5.00 per Common Share for a period of 24 months following the closing of the Offering.

“The outstanding performance of our Nevada operations in July and August and our resilience in the face of COVID-19 have allowed us to continue to focus on the execution of our long-term growth strategy”, said Bob Groesbeck Co-CEO of Planet 13. “Our balance sheet is rock solid and we are actively looking for ways to bring Planet 13 to highly attractive markets.”

The Company has received approval from the Canadian Securities Exchange (“CSE”) to list the Warrants for trading on the CSE. The Warrants are expected to commence trading under the ticker symbol “PLTH.WT.B” on the date hereof.

The Underwriters received a

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