Planet 13 Holdings Inc. announces closing of C$69 million bought deal public offering

On February 2, 2021 Planet 13 Holdings Inc. announced that it has closed a bought deal prospectus offering for aggregated gross proceeds of C$69,028,750. A total of 9,861,250 units of Planet 13 Holdings Inc. were sold pursuant to the offering, including an aggregate of 1,286,250 units issued as a result of the full exercise of the underwriters’over-allotment option, at a price of C$7.00 per unit. The Offering was co-led by Beacon Securities Limited and Canaccord Genuity Corp. (collectively, the "Underwriters").

Each unit consists of one common share in the capital of Planet 13 Holdings Inc. and one- half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share at an exercise price of C$9.00 per common share for a period of 24 months following the closing of the offering.

The Underwriters received a cash commission equal to 6.0% of the gross proceeds from the sale of the units pursuant to the offering and compensation options equal to 6.0% of the number of units sold pursuant to the offering. Each compensation option entitles the Underwriters to purchase one common share at a price of C$7.00 for a period of 24 months following closing.

Fasken advised the Underwriters in connection with the Offering with a team lead by Rubin Rapuch that included, Bradley Freelan, Markus Liik, Allison Marks, Jordana Keslassy, Gurinder (Gigi) Gujral and Arie van Wijngaarden.