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Overview
Planet 13 Completes Acquisition of Next Green Wave Holdings Inc.
March 02, 2022Planet 13 Holdings Inc. (“Planet 13”) (CSE: PLTH) (OTCQX: PLNHF), a leading vertically integrated Nevada cannabis company, completed an arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”) pursuant to which Planet 13 acquired all the issued and outstanding common shares of Next Green Wave Holdings Inc. (“NGW”), a premium seed-to-shelf craft cannabis producer that operates a 35,000 sq. ft. indoor facility in Coalinga, California.
The Arrangement was approved by NGW shareholders and subsequently approved by the Supreme Court of British Columbia on March 1, 2022. Pursuant to the terms of the Arrangement, each NGW common share has been exchanged for 0.1145 of one Planet 13 common share and $0.0001 in cash.
Wildeboer Dellelce LLP acted for Planet 13 in connection with the Arrangement with a team that consisted of Charlie Malone, Ragu Anantharajah, Jeff Arnold (corporate/securities), and Katy Pitch and Marija Tasevska (tax).
Client
Planet 13 Holdings Inc.
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