Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant ’ s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
The Common Shares are listed and posted for trading on the CSE under the symbol “PLTH” and quoted on the OTCQX under the symbol “PLNHF.” The Common Shares commenced trading on the CSE effective June 21, 2018.
The following table indicates the high and low values with respect to trading activity for the Common Shares on the CSE for the periods indicated below (source: www.thecse.com and www.finance.yahoo.com ).
Low Trading
High Trading
Period Ended
Price (C$)
Price (C$)
Fourth Quarter Ended December 31, 2022
0.83
2.38
Third Quarter Ended September 30, 2022
1.42
2.62
Second Quarter Ended June 30, 2022
1.46
3.42
First Quarter Ended March 31, 2022
2.40
4.40
Fourth Quarter Ended December 31, 2021
3.70
6.12
Third Quarter Ended September 30, 2021
5.36
8.78
Second Quarter Ended June 30, 2021
7.19
9.29
First Quarter Ended March 31, 2021
6.54
10.88
The following table indicates the high and low values with respect to trading activity for the Common Shares on the OTCQX for the periods indicated below (source: www.otcmarkets.com ). Any over-the-counter market quotations reflect inter-dealer prices, without retail mark-up, mark-down, or commission and may not necessarily represent actual transactions.
Low Trading
High Trading
Period Ended
Price (US$)
Price (US$)
Fourth Quarter Ended December 31, 2022
0.60
1.74
Third Quarter Ended September 30, 2022
1.03
2.12
Second Quarter Ended June 30, 2022
1.13
2.74
First Quarter Ended March 31, 2022
1.88
3.51
Fourth Quarter Ended December 31, 2021
2.89
4.84
Third Quarter Ended September 30, 2021
4.21
7.14
Second Quarter Ended June 30, 2021
5.72
7.37
First Quarter Ended March 31, 2021
5.10
8.67
Shareholders
As of March 22, 2023, there were 260 holders of record of Common Shares and no holders of record of Restricted Voting Shares.
Dividends
We have not paid dividends since the completion of the Business Combination and currently intend to reinvest all future earnings to finance the development and growth of our business. As a result, we do not intend to pay dividends on the Common Shares or any Restricted Voting Shares in the foreseeable future. Any future determination to pay distributions will be at the discretion of the Board and will depend on the financial condition, business environment, operating results, capital requirements, any contractual restrictions on the payment of distributions and any other factors that the Board deems relevant. We are not bound or limited in any way to pay dividends in the event that the Board determined that a dividend was in the best interest of our shareholders.
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Recent Sales of Unregistered Securities
During the year ended December 31, 2022, we had the following issuance of unregistered securities:
●
In connection with the Arrangement described herein, on March 2, 2022, we issued 21,361,002 Common Shares to NGW Shareholders and 1,106,925 options to NGW option holders. The Common Shares and options were issued in reliance upon Section 3(a)(10) of the Securities Act, which exempts from the registration requirements of the Securities Act any securities that are issued in exchange for one or more bona fide outstanding securities where the terms and conditions of such issuance and exchange are approved, after a hearing upon the fairness of such terms and conditions at which all persons to whom it is proposed to issue securities in such exchange shall have the right to appear, by any court expressly authorized by law to grant such approval. Following the requisite approval by the NGW Shareholders at a hearing at which such persons had the right to appear, NGW received a final order from the Supreme Court of British Columbia on March 1, 2022 as to the fairness of the Arrangement. See “ Recent Developments .”
Subsequent to the year ended December 31, 2022, we had the following issuance of unregistered securities:
●
On February 7, 2023, we issued 1,063,377 Common Shares to Frank Cowan, IV pursuant to our exercise of an option to purchase his 51% membership interest in Planet 13 Illinois LLC. We did not receive any cash proceeds from the issuance. The Common Shares were issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act.
Item 6. [Reserved].