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Planet 13 Holdings Inc. (CSE:PLTH) (OTCQX : PLNH), announced plans to purchase a Las Vegas dispensary, for $6.9M plus inventory value. This will extend its reach into the Silver State.

According to a report, Planet 13’s subsidiary, MM Development Company, Inc., has entered into an asset purchase agreement with Exhale Brands Nevada LLC, for a 3,100 square-foot dispensary located just west of Las Vegas Strip. Press release. The company said that the deal includes inventory, medical and recreational licenses and other operational assets.

In a statement, Planet 13 Co-CEO Bob Groesbeck stated that “Increasing our scale and operating leverage in Nevada is the most cost-efficient way to grow our business and this dispensary could not be a better match for our portfolio.”

The purchase price is $6.9 plus the value added to the cannabis inventory. Planet 13 will pay the closing price of $4 million in cash, with the remaining amount covered by a secured promissory notes due in one year. The dispensary. Find out more about At 4310 W. Flamingo Rd. in Las Vegas, a major east/west thoroughfare, there is a drive-through.

The acquisition is subject to regulatory approvals including the transfer of cannabis and licenses.

Planet 13, which operates the largest cannabis dispensary near the central tourist area in Las Vegas and is known for its large cannabis dispensary, sees this deal as complementing its existing operations.

Groesbeck stated that “their location and local focus customer base complements SuperStore and Nevada neighborhood store.”

Groesbeck believes the deal will enhance its vertical model and expand its brand market share in Nevada. He also stated a goal of “sharing fixed costs across dispensaries.” Planet 13 operates 31 dispensaries in the United States, including 27 it Snapped up in Florida VidaCann, a company it acquired in 2005.

The Exhale dispensaryThe company has not yet announced any specific plans for rebranding and operational changes.

Planet 13 has continued to expand. It has also acquired Florida. Recently opened its first consumption Lounge After staking out a claim on the Illinois market with an 4,000-square foot dispensary in Chicago’s metro area, the company is now in Las Vegas. Last year.