LAS VEGAS, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Planet 13 Holdings, Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), a leading vertically-integrated multi-state cannabis company, is sharing the following commentary regarding the December 18, 2025 Executive Order that directs the Attorney General to expedite completion of the process of rescheduling marijuana to Schedule III of the Controlled Substance Act.
Planet 13 remains committed to growth despite ongoing challenges related to banking, tax, and regulatory constraints, and the rescheduling announcement by the Trump Administration represents a positive development for job creation, industry growth and broader access to the potential medical benefits of cannabis.
Rescheduling cannabis from Schedule I to Schedule III may reduce certain tax constraints currently faced by the legal cannabis industry, including those related to IRS Code Section 280E. Rescheduling helps establish a foundation for future safe banking reforms. Safe banking in the cannabis industry provides a secure environment for financial transactions, granting access to essential services like checking accounts and loans. It ensures transparency, reduces costs associated with cash handling, and offers consumers safe and convenient payment options. Overall, safe banking is crucial for industry growth, regulatory compliance, and enhancing consumer experiences. Moreover, it would unlock substantial economic benefits, including job creation and increased tax revenues.
“Rescheduling cannabis isn’t the finish line—it’s the launchpad for research breakthroughs, safer financial systems, and a stronger, more equitable economy,” said Bob Groesbeck, Co-CEO of Planet 13. “This moment marks a turning point: the federal government is opening the door to science, safety, and progress for millions of Americans.”
Rescheduling cannabis should mark a monumental stride forward, facilitating extensive research into its potential medical benefits and therapeutic applications. Current regulations, which impede research on Schedule 1 substances in federally funded institutions, should be lifted, paving the way for groundbreaking discoveries.
In essence, rescheduling cannabis marks a pivotal initial step—advancing science, strengthening regulatory clarity, and laying the groundwork for durable economic expansion. For investors, it represents a clear signal that federal policy is moving toward normalization, unlocking long-term value creation across the cannabis sector.
About Planet 13 Holdings, Inc.
Planet 13 (https://planet13.com/) is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois, and Florida. Home to the nation's largest dispensary, located just off The Strip in Las Vegas, Planet 13 continues to expand its footprint with the recent debut of its first consumption lounge in Las Vegas, DAZED!, and the opening of its first Illinois dispensary in Waukegan, bringing unparalleled cannabis experiences to the Chicago metro area. Planet 13 operates dispensaries across Florida, a key market in its expansive footprint. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law. 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. For more information, visit www.planet13.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are often, but not always, identified by phrases such "plans", "expects", "proposed", "may", "could", "would", "intends", "anticipates", or "believes", or variations of such words and phrases. In this news release, forward-looking statements relate to an Executive Order about rescheduling cannabis. Such forward-looking statements reflect what management of the Company believes, or believed at the time, to be reasonable assumptions and accordingly readers are cautioned not to place undue reliance upon such forward-looking statements and that actual results may vary from such forward-looking statements. These assumptions, risks and uncertainties which may cause actual results to differ include, among others, those assumptions, risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and any of the Company's subsequent periodic reports filed with the U.S. Securities and Exchange Commission at www.sec.gov and on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made only as to the date of this press release and we assume no obligation to update or revise any forward-looking statements should they change, except as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further inquiries, please contact:
Planet 13 Investors:
Robert Groesbeck or Larry Scheffler
Co-Chief Executive Officers / ir@planet13lasvegas.com
Planet 13 Media:
Colin Trethewey / PRmediaNow Communications / Colin@PRmediaNow.com
