Top-Rated Las Vegas PLANET 13/MEDIZIN Dispensary Reports Record Growth Prior to Planet 13 Superstore Opening
September 24th, 2018
Exclusive, News, Top Story
Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) has been building on its unique cannabis customer experience and top quality cannabis product offerings since they first opened their doors in 2016. While all the focus has been on the new Planet 13 Superstore on track for a November 1, 2018 opening, the original Medizin/Planet 13 joint medical and recreational dispensary has quietly been churning out strong growth at their current location during the first two quarters of 2018. Planet 13 began trading on the OTCQB on Monday, September 17th, 2018, giving U.S. investors the opportunity to take part in this growing company.
The company recently reported record revenues of $4.4 million for Q2 2018, with an adjusted EBITDA of $0.8 million. Planet 13’s highly rated dispensary generated a monthly compound growth rate of 7.8% through July 31, 2018, and revenue of $8.0 million in the first six months of 2018. Additionally, Planet 13 was recently announced as 9th on the list of the 24 Top Revenue Generating Public Cannabis Companies, reporting in US dollars, by the Public Cannabis Company Revenue Tracker. According to Bob Groesbeck, Co-CEO of Planet 13, Q2 2018 was the eighth consecutive quarter of revenue growth for the Medizin location. He credits the Planet 13 team that has consistently made Medizin one of the top-rated dispensaries in Las Vegas.
The Superstore will combine the knowledgeable staff and excellent product diversity that Planet 13 is known for with a one-of-a-kind entertainment experience and a location that is 4 minutes from the Las Vegas Strip.
Phase 1 of the construction of the new 40,000 sq ft Planet 13 Superstore, slated to open November 1, 2018, is ahead of schedule, and the company reports that Nevada cultivators and suppliers are clamoring to have their products showcased for the thousands of daily expected customers. Due to the anticipated statewide increase in cultivation capacity (from 250,000 sq. ft. in grow operations for all of 2017 to 1.1 million sq. ft. by the end of 2019), wholesale prices for product are expected to be lower, while retail prices should remain at their current levels, and thus driving strong margins for company investors.
While the current dispensary is welcoming nearly 750 customers per day, with an average spend of $70, the new Superstore is expected to experience over 2,000 visitors per day, with a similar average shopping cart. The new facility will feature 16,200 sq.ft. of dispensary space and is expected to be the largest cannabis entertainment complex on planet Earth, located in the entertainment capital of the world.
Visitors to the new superstore will experience a sensory overload of special effects – with a sophisticated outdoor water feature and giant interactive electric lotus flowers on the roof visible from 65,000 hotel rooms that overlook the location. Once inside a huge interactive LED floor, laser graffiti walls, and overhead aerial orbs circling every hour will continue to wow customers.
Pending approval of both Las Vegas city & Clark County ordinances that have been drafted for upcoming November 2018 elections, customers may also be able to gather in a planned cannabis smoking lounge space in 2019. Plans are to eventually add a brewery, coffee shop, food offerings and convention event space to the 40,000 sq.ft. complex.
Rated as one of the premier Las Vegas marijuana dispensaries, Planet 13 strives to provide a one-of-a-kind destination. This mission guides every step taken by the business – from the types of products offered, to the entertainment, to the staffs’ reputation for helpful and knowledgeable service.
For more information, visit Planet13’s website at: https://www.planet13lasvegas.com/
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation:https://www.cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.