US: "This completed acquisition vertically integrates us in California"

Planet 13 Holdings Inc. and Next Green Wave Holdings Inc. have completed the previously announced arrangement under the Business Corporations Act, pursuant to which Planet 13 acquired all of the issued and outstanding common shares of Next Green Wave. The arrangement was overwhelmingly approved by NGW shareholders in accordance with the requirements of the BCBCA at a special meeting of NGW shareholders held on February 25, 2022, and was subsequently approved by the Supreme Court of British Columbia on March 1, 2022.

Key transaction highlights and benefits
- Increase vertical integration - cultivation and production will serve as the backbone of Planet 13's operations in the California market.
- Brand and product extension - enables Planet 13 to expand its brand portfolio into California.
- Experienced management - adds an experienced management and cultivation team to run Planet 13's California operations.
- Platform for expansion - enables Planet 13 to continue to add retail in California to generate economies of scale.

"The closing of this transaction significantly improves our position in California. It empowers us to improve margins through vertical integration at our store, enter the wholesale market with our portfolio of award-winning products, and gives us an experienced management team and foundation to continue to expand in California," said Larry Scheffler, Co-CEO of Planet 13. "I'd like to thank the team at Planet 13 and Next Green Wave for their hard work getting this transaction closed and the start they've made on integration. We've been incredibly impressed with the quality of cultivation and look forward to continued expansion."

For more information:
Planet 13  

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