plnh20250520_8k.htm
false 0001813452 0001813452 2025-05-20 2025-05-20
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): May 20, 2025
 
PLANET 13 HOLDINGS INC.
(Exact name of registrant as specified in its charter)
 
Nevada
  
000-56374
  
83-2787199
(State or other jurisdiction
of incorporation)
  
(Commission
File Number)
  
(I.R.S. Employer
Identification Number)
 
2548 West Desert Inn Road, Suite 100
Las Vegas, Nevada
  
89109
(Address of principal executive offices)
  
(Zip Code) 
 
(702) 815-1313
(Registrant’s telephone number, including area code) 
 
Not applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.424)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act: None
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☒
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On May 20, 2025, Planet 13 Holdings Inc. (the “Company”) announced the resignation of Dennis Logan, the Chief Financial Officer of the Company, effective May 31, 2025.
 
Effective upon Mr. Logan’s departure, the Company has appointed Steve McLean, the Company’s Vice President of Finance, to serve as its Interim Chief Financial Officer.
 
Mr. McLean joined the Company in 2019 and has since overseen the Company’s finance and accounting operations. He obtained his accounting degree in Toronto, Canada, where he held the Certified Management Accountant designation for 10 years and holds a Master’s degree with a specialization in taxation from the State University of New York at Albany.
 
There is no family relationship between Mr. McLean and any of the Company’s other officers and directors. There are no understandings or arrangements between Mr. McLean and any other person pursuant to which Mr. McLean was appointed as Interim Chief Financial Officer.
 
Item 7.01 Regulation FD Disclosure.
 
The Company issued a press release on May 20, 2025 announcing the resignation of Chief Financial Officer Dennis Logan and appointment of Steve McLean as Interim Chief Financial Officer. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated by reference herein.
 
The information in the press release is being furnished, not filed, pursuant to Item 7.01 of Form 8-K. Accordingly, the information in Item 7.01 of this Current Report, including Exhibit 99.1, will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference.
 
 
Item 9.01. Financial Statements and Exhibits.
 
Exhibit
No.
  
Description
     
99.1
  
104
  
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
Planet 13 Holdings Inc.
  
       
Date: May 20, 2025
By:
/s/ Robert Groesbeck
  
 
Name
Robert Groesbeck
  
 
Its:
Co-Chief Executive Officer
  
       
Date: May 20, 2025
By:
/s/ Larry Scheffler
  
 
Name:
Larry Scheffler
  
 
Its:
Co-Chief Executive Officer
  
 
 

Exhibit 99.1

 

logo01.jpg

 

Planet 13 Announces Chief Financial Officer Resignation;

 

Steve McLean Named Interim Chief Financial Officer

 

 

Las Vegas, Nevada – May 20, 2025 – Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), a leading vertically-integrated multi-state cannabis company, today announced that Dennis Logan, the Chief Financial Officer of the Company, submitted his resignation effective May 31, 2025. Mr. Logan will be leaving the Company to pursue other opportunities.

 

Mr. Logan has served as the Chief Financial Officer of the Company since 2018 and is committed to an orderly transition of his duties. Effective upon Mr. Logan’s departure, the Company has appointed Steve McLean, the Company’s Vice President of Finance to serve as its Interim Chief Financial Officer.

 

“We would like to thank Dennis for his contributions to the Company. He has been a key contributor to Planet 13 since we went public. We wish him the best in his future endeavors,” said Robert Groesbeck, Co-Chief Executive Officer of the Company.

 

Mr. McLean joined the Company in 2019 and has since overseen the Company’s finance and accounting operations. He is a Certified Management Accountant and holds a Master’s degree with a specialization in taxation from the State University of New York at Albany.

 

About Planet 13

 

Planet 13 (https://planet13.com) is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois, and Florida. Home to the nation's largest dispensary, located just off The Strip in Las Vegas, Planet 13 continues to expand its footprint with the recent debut of its first consumption lounge in Las Vegas, DAZED!, the opening of its first Illinois dispensary in Waukegan, bringing unparalleled cannabis experiences to the Chicago metro area. Planet 13’s mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law. Planet 13’s shares trade on the Canadian Securities Exchange under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH. To learn more, visit planet13.com.

 

Cautionary Note Regarding Forward-Looking Statements

 

This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are often, but not always, identified by phrases such as “plans”, “expects”, “proposed”, “may”, “could”, “would”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases. In this news release, forward-looking statements relate to our strategic goals or future performance. Such forward-looking statements reflect what management of the Company believes, or believed at the time, to be reasonable assumptions and accordingly readers are cautioned not to place undue reliance upon such forward-looking statements and that actual results may vary from such forward-looking statements. These assumptions, risks and uncertainties which may cause actual results to differ include, among others: final regulatory and other approvals or consents needed to operate our business; fluctuations in general macroeconomic conditions; inflationary pressures; fluctuations in securities markets; expectations regarding the size of the cannabis market in the states in which we currently operate in or contemplate future operations and changing consumer habits in such states; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties including international conflict; 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 states in which we currently operate in or contemplate future operations; employee relations and other risks and uncertainties discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission at www.sec.gov and on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and in the Company’s periodic reports subsequently filed with the U.S. Securities and Exchange Commission and on SEDAR+. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

 
 

 

For Further Inquiries, Please Contact:

 

LodeRock Advisors Inc., Planet 13 Investor Relations

[email protected]

 

Robert Groesbeck or Larry Scheffler

Co-Chief Executive Officers

[email protected]