Business
Planet 13 Announces Intended Completion of Change in Domicile to Nevada and Intended OTC Market and Trading Symbol Change
LAS VEGAS, NV / ACCESSWIRE / September 14, 2023 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF)...
About this update from Planet 13 Holdings Inc
[{"type":"text","content":"Planet 13 Announces Intended Completion of Change in Domicile to Nevada and Intended OTC Market and Trading Symbol Change LAS VEGAS, NV / ACCESSWIRE / September 14, 2023 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF) (\"Planet 13\" or the \"Company\"), a leading vertically-integrated multi-state cannabis company, today announced it intends to complete its previously announced plan of arrangement pursuant to which the Company will be continued from the jurisdiction of the Business Corporations Act (British Columbia) and domesticated under the Nevada Revised Statutes to the State of Nevada (the \"Nevada Domestication\").The Nevada Domestication was overwhelmingly approved by shareholders at Planet 13's Annual General and Special Meeting of Shareholders held on Thursday, July 27, 2023. The British Columbia Supreme Court issued its Final Order on August 3, 2023. The Company expects the Nevada Domestication to be completed on September 15, 2023 after market close and when the necessary filings are made with, and made effective by, the Secretary of State of the State of Nevada.Upon completion of the Nevada Domestication, each issued and outstanding common share will for all purposes be deemed to be one issued share of common stock of the Company. In connection with the Nevada Domestication, the Company expects that, effective at market open on September 18, 2023, the Company's common stock will begin quotation on the OTCQX U.S. market rather than the OTCQX International market and the OTCQX ticker symbol for the Company's common stock will change from \"PLNHF\" to \"PLNH\". The intended change in the OTC market reflects the Company becoming a Nevada corporation following the Nevada Domestication and the new ticker symbol reflects the removal of the OTC foreign company designation following the Nevada Domestication. No action is required by shareholders with respect to the OTC market or ticker symbol change. The Company's common stock is expected to continue to trade on the Canadian Securities Exchange under the ticker symbol PLTH. The CUSIP number is also expected to change from 72706K101 to 72707C108.In addition, the Planet 13 Holdings Inc. 2023 Equity Incentive Plan is intended to become effective as of September 15, 2023, upon completion of the Nevada Domestication, replacing the Planet 13 Holdings Inc. 2018 Stock Option Plan an...