Planet 13 Holdings announces results of annual general, special meeting

Planet 13 Holdings announced results for each item of business considered at Planet 13’s Annual General and Special Meeting of Shareholders held on Thursday, July 27, 2023. 98.10% of shares voted were voted in favor of re-appointing Davidson & Company LLP as auditors of the Company for the ensuing year and authorizing the board of directors of the Company to fix the remuneration to be paid to the auditors. The Company is pleased to announce that the special resolution to approve the proposed plan of arrangement under Section 288 of the Business Corporations Act involving, among other things, the continuance of the Company out of British Columbia and the concurrent domestication of the Company to the State of Nevada, was resoundingly passed with 99.50% the votes cast, voting in favor of the Arrangement Resolution. The Arrangement Resolution required the approval of not less than 66 2/3% of the votes cast by the shareholders present in person or by proxy at the Annual General and Special Meeting. The Company anticipates completing the Nevada Domestication on or about September 1, 2023, subject to, among other things, receipt of a final order of the British Columbia Supreme Court, which is expected to be obtained at a final order hearing on August 3, 2023, the Company’s determination that it will not incur a material amount of Canadian income tax at the effective time of the Nevada Domestication, as well as a number of other conditions. 98.48% of the votes cast were voted in favor of passing an ordinary resolution to approve and adopt the Planet 13 Holdings Inc. 2023 Equity Incentive Plan. The 2023 Equity Incentive Plan is expected to become effective upon the completion of the Nevada Domestication.