LAS VEGAS — February 12, 2026 — Leads & Copy — Planet 13 Holdings Inc. announced it has completed the divestiture of its Orange County, California retail and distribution licenses and closed the sale of its Coalinga, California cultivation facility property. The company is also progressing with the transfer of the cultivation license to the buyer.
According to the company, these actions mark the substantial completion of Planet 13’s planned exit from the California market.
Bob Groesbeck, Co-CEO of Planet 13, said exiting California was a priority for 2025–2026. Groesbeck added that the company has now completed the closure of its retail and distribution operations while advancing the final steps related to cultivation.
Company officials said the exit from California is expected to reduce operating complexity and overhead, allowing management to concentrate resources on expansion and operational excellence in its core markets. The company expects the exit from California to reduce operating complexity and overhead while allowing management to concentrate resources on expansion and operational excellence in its core markets.
Planet 13 is a vertically integrated cannabis company with cultivation, production, and dispensary operations in Nevada, Illinois, and Florida. The company operates the nation’s largest dispensary, located just off The Strip in Las Vegas, and has recently debuted its first consumption lounge in Las Vegas, DAZED! Planet 13 has also opened its first Illinois dispensary in Waukegan and operates dispensaries across Florida.
Planet 13’s shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH.
Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law.
Source: Planet 13
