The Stars Align in Las Vegas for Full Re-Opening of Planet 13 Complex
The world's largest cannabis superstore emerges from shutdown with more local customers and welcomes tourists back to Las Vegas. Planet 13 is increasing its dispensary floor capacity to 50% (264 customers, up from a limit of 10 during the shutdown) and its restaurant and all entertainment features are re-opening.
LAS VEGAS, June 8, 2020 /PRNewswire-PRWeb/ -- After battling through the shut-down by shifting to local delivery and curbside, while maintaining full staffing of over 300 employees, Planet 13 looks forward to the return of Vegas tourism.
The State mandated dispensary limitation of no more than 10 people at-a-time has been lifted, and visitors are flocking back to Las Vegas with many hotels and casinos welcoming back tourists.
"This has been a very challenging time for all businesses especially for those of us who cater to the tens-of-millions of tourists who visit Las Vegas each year," said Bob Groesbeck, Planet 13 Co-CEO. "We are located next to The Strip and historically most of our customers have come from out of town, so when flights, conventions and tourism were put on hold by the pandemic we took action."
Planet 13 doubled-down on helping the community, utilizing its new restaurant, Trece, to donate more than 7,000 meals to local seniors at risk, while in that process keeping restaurant staff on the job. Planet 13 also provided free meals for employees at Trece. Now the restaurant is open again for locals and tourists to enjoy.
Planet 13 also built a connection with local customers by increasing its delivery fleet to over 30 vehicles and keeping its doors open within the state-mandated limited dispensary capacity, and by implementing extensive safety measures during the pandemic.
The result - Planet 13 is in a stronger position to grow its local customer base, and as highlighted in its June 1, 2020, Q1 earnings it accounted for 10% of all retail cannabis sales for the entire Nevada market.
"We are incredibly proud of the way our staff adapted and worked together to keep our business strong during this difficult time, and we couldn't be more excited to welcome back our past customers and new visitors from around the world to experience Planet 13," said Bob Groesbeck. "While we all hope the worst of the pandemic is over we want to ensure customers that we will continue to follow CDC guidelines with extensive cleaning/sanitization of all touch points and throughout our facility, social distancing, mask wearing and we have hand-cleaning stations everywhere. We welcome the world back, safely."
About Planet 13
Planet 13 (http://www.planet13holdings.com) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas - the entertainment capital of the world. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13's common shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and on the OTCQX under the symbol PLNHF.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking-statements relate to, among other things, future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: final regulatory and other approvals or consents; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Nevada cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in the State of Nevada; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States through its subsidiary MMDC. Local state laws where MMDC operates permit such activities however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form dated April 30, 2019 filed on its issuer profile on SEDAR at http://www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Planet 13
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