An anonymous director reports

PLANET 13 ANNOUNCES CLOSING OF PUBLIC OFFERING OF UNITS

Planet 13 Holdings Inc. has closed its previously announced underwritten public offering for total gross proceeds to the company of approximately $11.3-million (U.S.). Pursuant to the offering, the company issued and sold 18.75 million units of the company at a public offering price of 60 U.S. cents per unit.

Each unit consisted of one share of common stock, no par value, of the company and one warrant. Each warrant entitles the holder to purchase one share of common stock for a period of five years following the closing date of the offering at an exercise price of 77 U.S. cents, subject to adjustments in certain events.

The company intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include, but are not limited to, the acquisition of additional retail cannabis licences in the state of Nevada, the expansion of its retail presence in Florida and Illinois, and other capital improvements.

Canaccord Genuity acted as sole bookrunning manager of the offering on behalf of a syndicate of underwriters which includes Beacon Securities Ltd.

The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-274829), including a base prospectus, which was filed with the Securities and Exchange Commission and became effective on Oct. 17, 2023. The final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC's website.

The units were offered in Canada pursuant to the company's existing multijurisdictional disclosure system (MJDS) short-form base shelf prospectus dated Oct. 17, 2023, that was filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. A MJDS prospectus supplement is available under the company's SEDAR+ profile.

About Planet 13 Holdings Inc.

Planet 13 is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois and upcoming sites in Florida.

We seek Safe Harbor.