Planet 13 Holdings Inc (CSE:PLTH, OTCQX:PLNHF) Co-CEO Larry Scheffler tells Proactive the group has entered into a definitive purchase agreement to acquire a cannabis license in Florida.
Scheffler says the group believes the state is becoming closer to legalizing recreational use of cannabis, and now is the 'time to jump in.' Its newly acquired subsidiary, which will be renamed Planet 13 Florida Inc., will purchase the license for $55 million in cash, to operate as a Medical Marijuana Treatment Center.