Las Vegas marijuana firm with local expansion plans buys Florida company
Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
A Las Vegas company with plans for a cannabis “SuperStore” in Orlando will buy a Florida company.
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Planet 13 Holdings Inc. entered into a purchase agreement on Aug. 28 for the ownership interests of Jacksonville-based VidaCann LLC. The proposed deal includes 26 VidaCann dispensaries, including two in Orlando, as well as a distribution and growing facility that can support 60 dispensaries.
The deal is valued at $48.9 million and includes 78.46 million base shares of Planet 13, a closing cash payment and promissory notes. The former equityholders of VidaCann and its 9496 7346 Quebec Inc. adviser will have an approximately 26.09% pro forma ownership in Planet 13.
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