Planet 13 Holdings Inc. Announces $20 Million Bought Deal Public Offering

Published: November 8, 2018

Planet 13 Holdings Inc. Announces $20 Million Bought Deal Public Offering

Planet 13 Holdings Inc. has entered into an agreement with Beacon Securities Limited, on behalf of a syndicate of underwriters, to purchase, on a bought deal basis, 6,666,667 units in the capital of the Company at a price of $3.00 per Unit for aggregate gross proceeds to the Company of $20,000,001.

Each Unit shall consist of one common share in the capital of the Company and one-half (1/2) of one common share purchase warrant of the Company. Each whole Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price per Common Share of $3.75 for a period of 36 months from the Closing Date. The Warrants may be accelerated by the Company, at its sole option, at any time in the event that the volume-weighted average closing price of the Common Shares on the Canadian Securities Exchange is greater than or equal to C$5.00 for a period of 20 consecutive trading days, by giving notice to the holders thereof and, in such case, the Warrants will expire at 4:00 pm (Toronto time) on the earlier of: (i) the 30th day after the date on which such notice is given by the Company in accordance with the terms of the Warrants, and (ii) the actual expiry date of the Warrants.