All figures are stated in United States dollars ($) unless otherwise indicated
LAS VEGAS, NV / ACCESSWIRE / July 8, 2020 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, announced that Elysium Cannabis Beverages, launched last week, at SuperStore, is already a top-selling beverage SKU in Nevada[1].
Elysium is a line of sparkling flavored beverages available in five flavours: Valencia Orange, Persian Lime, Eureka Lemon, Wild Berry, and Ruby Red Grapefruit. All flavors are low calorie, zero sugar using all-natural fruit flavourings and designed for an uplifting high.
"I'm happy to announce that Elysium - our latest product innovation is now available at the SuperStore," said Bob Groesbeck Co-CEO of Planet 13. "Our owned brands, with their focus on quality and natural ingredients, are a hit with consumers. They are among the most popular brands both at the SuperStore and statewide, with some of our brands being the top-selling product SKU in their respective category[2]. Elysium is well on its way to earning the same critical and popular acclaim, already among the top-selling beverage SKUs in the State over the past 30 days."
In mature markets, cannabis beverages make up ~10% of edible purchases[3]. The global cannabis beverage market is expected to reach $2.6 billion by 2026, growing at a CAGR of 26.6%[4].
For further inquiries, please contact:
LodeRock Advisors Inc., Planet 13 Investor Relations
[email protected]
(416) 519-2156 ext. 2230
Jonathan Ro Robert Groesbeck or Larry Scheffler
Co-Chief Executive Officers
[email protected]
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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 OTCQX 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, Planet 13's first California location and the timeline for opening of the Santa Ana dispensary.
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; risks associated with COVID-19 and other infectious diseases presenting as major health issues; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Nevada and California 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 California; 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 licensed subsidiary entities in states that have legalized marijuana operations, 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, including COVID-19, are contained under the heading "Risk Factors" and elsewhere in the Company's annual information form dated April 13, 2020 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.
[1] Based on 30-day rolling average - https://www.headset.io/the-best-selling-cannabis-products/nevada-beverage
[2] https://www.headset.io/the-best-selling-cannabis-products/nevada-concentrates
[3] https://companyweek.com/article/data-dive-cannabis-beverages
[4] https://www.alliedmarketresearch.com/cannabis-food-and-beverage-market
SOURCE: Planet 13 Holdings