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Planet 13 s Co-CEOs Groesbeck, Scheffler Convert Class A Shares, Cannabis Co. To Obtain Domestic Issuer Status
Nevada-based cannabis company
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) confirmed Friday its co-CEOs Robert Groesbeck and Larry Scheffler have converted 52.25 million of the company’s Class A restricted voting shares into 52.25 million common shares.
What Happened
Groesbeck and Scheffler completed the conversion via their joint respective actors – PRMN Investments Ltd. and Thirteen, LLC. Shares were transformed under previously set terms and for no further consideration.
On May 7
th, another 2.98 million Class A shares not held by Groesbeck and Scheffler s joint actors were also converted, due to which Planet 13 now has no more outstanding Class A shares.