Planet 13 Holdings Inc. Announces Closing of C$28.8 Million Bought Deal Public Offering – Yahoo Finance

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

LAS VEGAS, NV / ACCESSWIRE / November 5, 2020 / Planet 13 Holdings Inc. (“Planet 13” or the “Company”) (CSE:PLTH)(OTCQB:PLNHF) is pleased to announce that it has completed its previously-announced bought deal financing for aggregate gross proceeds of C$28,804,625 (the “Offering“).

A total of 6,698,750 units (the “Units“) of the Company were sold pursuant to the Offering, including an aggregate of 873,750 Units issued as a result of the full exercise of the over-allotment option (the “Over-Allotment Option“), at a price of C$4.30 per Unit.

The Offering was co-led by Canaccord Genuity Corp. and Beacon Securities Limited (collectively, the “Underwriters“).

Each Unit consists of one (1) common share (a “Common Share“) in the capital of the Company and one-half (1/2) of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price per Common Share of C$5.80 for a period of 24 months from the closing of the Offering.

The net proceeds from the Offering will be used for retail expansion of the Company outside of Nevada, and general corporate and other working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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