Planet 13 to expand in Florida with acquisition of VidaCann for ~$49M

seekingalpha2023-08-28

Planet 13 (OTCQX:PLNHF) entered into a membership interest purchase agreement to acquire all of the ownership interests in VidaCann from the sellers, who currently own all of the membership interests ...

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VidaCann is engaged in the business of cultivating, processing, storing, transporting, and dispensing cannabis in the State of Florida. The company will acquire VidaCann from the sellers for agreed consideration equal to the sum of ~78.46M shares, a cash payment of $4M; and promissory notes to be issued of $5M. The total consideration is valued at ~$48.9M. The transaction is expected to close in Q1 2024. VidaCann's management team and operational staff are expected to join Planet 13 to run the Florida operations after closing.  More on Planet 13   Cheap Cannabis Stock Planet 13 Has Gotten Even Cheaper Planet 13 Holdings receives approval for Nevada cultivation expansion Planet 13 stock falls as Q2 revenue declines ~13% Y/Y Seeking Alpha’s Quant Rating on Planet 13 Holdings","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4007":"制药"},"translate_title":"Planet 13以4900万美元收购VidaCann，在佛罗里达州扩张","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PLNHF":1},"content_text":"Planet 13 (OTCQX:PLNHF) entered into a membership interest purchase agreement to acquire all of the ownership interests in VidaCann from the sellers, who currently own all of the membership interests in VidaCann. VidaCann is engaged in the business of cultivating, processing, storing, transporting, and dispensing cannabis in the State of Florida. 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More on Planet 13   Cheap Cannabis Stock Planet 13 Has Gotten Even Cheaper Planet 13 Holdings receives approval for Nevada cultivation expansion Planet 13 stock falls as Q2 revenue declines ~13% Y/Y Seeking Alpha’s Quant Rating on Planet 13 Holdings","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2362796911"}