Exclusive Interview with Co-CEO Larry Scheffler and CFO Dennis Logan of Planet 13 Holdings
On November 1, vertically integrated cannabis company Planet 13 Holdings (CSE: PLTH) (OTC: PLNHF) will open its superstore right off of the Las Vegas strip. Taking a note from the city’s grand hotels, everything about the massive retail store will be over-the-top. Co-CEO Larry Scheffler and CFO Dennis Logan gave New Cannabis Ventures details on the new retail location, the company’s Nevada footprint, and where they see future growth.
Scheffler and his Co-CEO Robert Groesbeck met through the Henderson City Council in the 1990s and did land deals together with Groesbeck serving as Scheffler’s attorney. When it became apparent cannabis was moving away from prohibition, the Co-CEOs leapt at the opportunity. Logan spent years in investment banking before being approached by a number of Canadian cannabis companies, but he was intrigued by the capital markets and size of the opportunity in the U.S. Planet 13’s vertically-integrated vision for Nevada appealed to him, so he came on board as CFO.
Right now, Planet 13 has two dispensary licenses, one medical and one recreational, and grow and production licenses in Clark County, Nevada. In Nye County, located approximately 120 miles northwest of Las Vegas, the company owns 80 acres of land zoned for up to 2.4 million square feet of grow. While the company does have a medical product line (Medizin) that will continue to serve patients, the main focus will be on the recreational side of the business.
The Planet 13 Dispensary Open in Nevada Not the Average Dispensary
Approximately 55 million visitors flock to Las Vegas every year, and Planet 13 intends to capture their business, according to Scheffler. The company’s superstore is set to open in a 112,000-square-foot building that used to