Planet 13 Secures $5.5 Million in Total Recovery from WAB

Planet 13 Holdings Inc., a leading vertically integrated multistate cannabis company, announced a settlement and recovery of US$2.1 million of funds, which were held at Bridge Bank, a division of Western Alliance Bank (collectively “WAB”), bringing the total recovery of funds held at WAB to US$5.5 million.

Additionally, the company, through a wholly-owned subsidiary, will obtain real estate (the “real property”) valued at approximately US$5 million based on recent comparable sales, which it intends to sell. In total, the company has recovered roughly $10.5 million, including the expected value from the sale of the real property.

Read more at Cannabis Business Times.