Planet 13 Announces Customer Traffic for April 2019

LAS VEGAS, May 7, 2019 /CNW/ - Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, announced today that it served 1,962 customers per day in April at an average ticket of $89.62.

			30-Nov-18		31-Dec-18		31-Jan-19		28-Feb-19		31-Mar-19		30-Apr-19
Total Tickets			42,157		44,296		48,119		48,052		61,602		58,869
# of Days			30		31		31		28		31		30
Average Customers/Day			1,405		1,429		1,552		1,716		1,987		1,962
Avg Ticket		$	79.82	$	77.63	$	84.69	$	89.57	$	88.58	$	89.62
Total Visitors			55,433		68,422		70,133		67,900		98,659		96,659
Avg Visitors/Day			1,848		2,207		2,262		2,425		3,183		3,222
Visitor Conversion Rate			76%		65%		69%		71%		62%		61%

"April Superstore results were inline with very strong March results and are meeting or exceeding the 2,000 customers per day at $75 average ticket we guided to when opening the SuperStore," said Larry Scheffler, Co-CEO of Planet 13. "We had 1,962 paying customers per day and an average ticket of just under $90 US. With only 35% of our total square footage built-out, we are just starting to show the potential of this location and the Planet 13 brand. We expect the Superstore's visibility to continue to grow as we complete our Phase II expansion in Q3 and are exploring several additional ways to generate value both through expansion into other jurisdictions as well as distribution of our successful in-house brand portfolio. We look forward to continuing to update shareholders on our progress when we report Q1 at the end of May."

About Planet 13
Planet 13 (www.planet13holdings.com) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas - the entertainment capital of the world. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13's shares trade on the Canadian Stock Exchange (CSE) under the symbol PLTH and OTCQB under the symbol PLNHF.

Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking-statements relate to, among other things, future expansion plans.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: final regulatory and other approvals or consents; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Nevada cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in the State of Nevada; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States through its subsidiary MMDC. Local state laws where MMDC operates permit such activities however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form dated October 18, 2018 filed on its issuer profile on SEDAR at www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Planet 13 Holdings Inc.

LodeRock Advisors Inc., Planet 13 Investor Relations, [email protected], 416-283-0178; Robert Groesbeck or Larry Scheffler, Co-Chief Executive Officers, [email protected], 416-283-0178

Related Links

https://planet13lasvegas.com/