Planet 13 Holdings Inc.

PLTH is a vertically integrated company that cultivates and provides cannabis and cannabis-infused products. The company operates in Nevada, California, and Illinois, and is developing operations in Florida. In Nevada, its subsidiaries hold six cultivation licenses (three medical, three adult-use), six production licenses (three medical, three adult-use), three dispensary licenses (one medical, two adult-use), and one distribution license (adult-use and medicinal). In California, subsidiaries hold one medium indoor cultivation license, one manufacturing license, two distribution licenses, one dispensary license, and one event organizer license. In Florida, a subsidiary holds one Medical Marijuana Treatment Center license, allowing for an unlimited number of medical dispensary locations (33 operational as of December 31, 2025), multiple cultivation facilities (one operational and approved), and multiple manufacturing facilities (one operational as of December 31, 2025). In Illinois, a subsidiary holds one adult-use dispensing license. PLTH manufactures cannabis products under brands including HaHa (gummies and beverages), Dreamland (chocolates), TRENDI (flower, vapes, and concentrates), Medizin (flower, vapes, and concentrates), and Leaf and Vine (flower and vapes). The company has a customer-loyalty database of over 485,000 customers. Subsidiaries include MM Development Company, Inc. (100% owned, Nevada license holding company), BLC Management Company, LLC (100% owned, management/holding company), LBC CBD, LLC (100% owned, CBD retail sales and marketing), and Newtonian Principles, Inc. (100% owned, California license holding company).