Planet 13 Holdings Inc. Reports Director/Officer Changes

TL;DR

Planet 13 shuffled its board and execs, filed 8-K.

AI Summary

Planet 13 Holdings Inc. filed an 8-K on June 18, 2024, reporting events as of June 12, 2024. The filing primarily concerns the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements. It also includes Regulation FD disclosures and financial statements/exhibits.

Why It Matters

Changes in a company's board of directors and executive officers can signal shifts in strategy, governance, or operational focus.

Risk Assessment

Risk Level: medium — Changes in key leadership roles can introduce uncertainty regarding future company direction and performance.

Key Players & Entities

• Planet 13 Holdings Inc. (company) — Registrant
• June 12, 2024 (date) — Date of earliest event reported
• June 18, 2024 (date) — Date of report
• Nevada (jurisdiction) — State of incorporation
• 2548 West Desert Inn Road (address) — Principal executive offices
• Las Vegas (city) — Principal executive offices city
• 89109 (zip_code) — Principal executive offices zip code
• 702-815-1313 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $150,000 — ngs. The rent for the initial term is US$150,000 per month. VidaCann has the right to ex
• $157,500 — he rent for the first renewal term is US$157,500 per month and the rent for the second r
• $165,375 — e rent for the second renewal term is US$165,375 per month. David Loop is the President

Filing Documents

• plnh20240612_8k.htm (8-K) — 33KB
• ex_687567.htm (EX-99.1) — 7KB
• plth_991img1.jpg (GRAPHIC) — 5KB
• 0001437749-24-020650.txt ( ) — 178KB
• plnh-20240612.xsd (EX-101.SCH) — 3KB
• plnh-20240612_def.xml (EX-101.DEF) — 11KB
• plnh-20240612_lab.xml (EX-101.LAB) — 15KB
• plnh-20240612_pre.xml (EX-101.PRE) — 11KB
• plnh20240612_8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. On June 12, 2024, Lee Fraser resigned from the board of directors (the "Board") and Audit Committee of the Board of Planet 13 Holdings Inc. (the "Company" or "Planet 13"), and the Board appointed David Loop, age 65, to the Board and to the Audit Committee of the Board. Mr. Loop will serve in such capacities until the Company's next annual meeting of stockholders or until his respective successor is elected and qualified, or until his respective earlier resignation, retirement or removal. Mr. Loop's appointment remains subject to regulatory background investigations. Mr. Fraser's resignation from the Board was not due to any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Mr. Fraser will continue to serve as the Company's Chief Administrative Officer. Mr. Loop was appointed to the Board in connection with the previously reported Director Nomination Agreement by and between the Company and Loop's Dispensaries, LLC ("Dispensaries") pursuant to which, in connection with the Company's acquisition of all of the membership interests in VidaCann LLC ("VidaCann") on May 10, 2024 ("Closing Date"), Dispensaries had the right to nominate one director to the Board on June 12, 2024, the next business day following the Company's 2024 annual meeting of stockholders. Dispensaries' board nomination right is effective for a period of one year from the date of Mr. Loop's appointment to the Board. Mr. Loop is the Co-President of Florida Operations of the Company. Since Mr. Loop is an employee director, he will not receive any director compensation for his service on the Board or Audit Committee. VidaCann entered into an agreement of lease with Loop's Nursery & Greenhouses, Inc. ("Nursery") and Family Trust Created under the Ruth F. Loop Revocable Trust dated Novem

01

Item 7.01 Regulation FD Disclosure. On June 12, 2024, the Company issued a press release announcing the appointment of David Loop to the Board. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in this Item 7.01 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this Item 7.01 and the accompanying Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated June 12, 2024 . 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Planet 13 Holdings Inc. Date: June 18, 2024 By: /s/ Robert Groesbeck Name Robert Groesbeck Its: Co-Chief Executive Officer Date: June 18, 2024 By: /s/ Larry Scheffler Name: Larry Scheffler Its: Co-Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR