Mr. Robert Groesbeck reports

PLANET 13 ANNOUNCES FIRST NEVADA STATE CONSUMPTION LOUNGE LICENSE

Planet 13 Holdings Inc. has received its first Nevada state consumption lounge licence. The approval by the State of Nevada comes after receiving the prospective licence in December, 2022, from the Nevada Cannabis Compliance Board.

"Receiving this confirmation from the state allows us to move onto the final design and buildout of our consumption lounge," said Larry Scheffler, co-chief executive officer of Planet 13. "The consumption lounge will be a huge step to unlocking the full potential of the SuperStore as a cannabis destination. It will give customers the ability to try products prior to buying, watch live entertainment, and enjoy food and drink in a social setting that matches Planet 13's incredible experiential design standard."

The consumption lounge will have space for live entertainment, and will be able to be booked for private events, brand launches and other unique events. The addition of the lounge is consistent with Planet 13's stated strategy of continuing to build the Las Vegas SuperStore into a one-of-a-kind cannabis destination where consumers can watch cannabis products being made, can purchase products and can consume all under one roof. The additional attractions, stores, entertainment and events increase the utilization of the SuperStore facility, drive additional traffic and improve margins.

Construction of the consumption lounge is expected to be finished in first quarter 2024, pending final county-level approvals.

About Planet 13 Holdings Inc.

Planet 13 is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations in Las Vegas and in Orange county, California. Planet 13 also holds a medical marijuana treatment centre licence in Florida and a conditional social-equity-justice-involved dispensing licence in the Chicago region of Illinois. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and as a creator of innovative cannabis products. Planet 13's shares trade on the Canadian Securities Exchange under the symbol PLTH and are quoted on the OTCQX under the symbol PLNHF.

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