LAS VEGAS, NV / ACCESSWIRE / September 1, 2021 / Planet 13 Holdings Inc.
License holders are not subject to restrictions on the number of dispensaries that may be opened or on the number or size of cultivation and processing facilities they may operate.
Florida has long been one of our most coveted markets with over 20 million residents, 130 million annual visitors and incredible consumer demand already demonstrated in the medical program.
We are well capitalized to complete the initial buildout of our cultivation and retail plan which includes a network of neighborhood stores in priority metro areas to support future SuperStores in Miami, Orlando, and other tourist destinations, said Bob Groesbeck, Co-CEO.
As consideration for the License, the Company will pay US$55 million in cash to the Seller, with an initial deposit therefrom of US$2 million to be delivered by the Company and held in escrow by a third party escrow agent upon execution of an escrow agreement as promptly as possible after the date hereof.