Nevada’s Planet 13 cannabis firm ends $10 million deal to enter California

  • Nevada-based marijuana company Planet 13 on Monday said it is terminating its $10 million acquisition of a cannabis sales license and lease in California, which would have served as the company’s entry into that key market.
  • The stock and cash deal for Newtonian Principles, announced last June, was terminated due to unmet conditions in the definitive agreement, Planet 13 said in a news release.
  • The acquisition was expected to include a 40,000-square-foot marijuana store in California.

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