Planet 13 Holdings (OTCQX:PLNH) said on Monday that the cannabis company is set to sell Planet 13 Florida, which owns medical marijuana treatment center license issued by the Florida Department of Health, to SGW FL Enterprises.
The sale of the license was a closing condition to the company’s previously-announced proposed acquisition of VidaCann.
The company will sell the shares for a cash payment of $9M due on closing.
The proposed transaction is expected to close in Q1.
H/T: seekingalpha.com
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