Planet 13 Holdings Inc. 10-K

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 ). Period Ended Low Trading Price (C$) High Trading Price (C$) 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 Fourth Quarter Ended December 31, 2020 3.57 8.20 Third Quarter Ended September 30, 2020 1.96 5.51 Second Quarter Ended June 30, 2020 1.26 2.69 First Quarter Ended March 31, 2020 0.99 2.62 Fourth Quarter Ended December 31, 2019 1.72 2.48 Third Quarter Ended September 30, 2019 2.12 2.86 Second Quarter Ended June 30, 2019 2.15 3.60 First Quarter Ended March 31, 2019 1.44 2.26 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. Period Ended Low Trading Price (US$) High Trading Price (US$) 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 Fourth Quarter Ended December 31, 2020 2.67 6.40 Third Quarter Ended September 30, 2020 1.57 4.19 Second Quarter Ended June 30, 2020 0.88 1.99 First Quarter Ended March 31, 2020 0.63 2.02 Fourth Quarter Ended December 31, 2019 1.26 2.00 Third Quarter Ended September 30, 2019 1.60 2.18 Second Quarter Ended June 30, 2019 1.61 2.70 Shareholders As of March 25, 2022, there were 262 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. Recent Sales of Unregistered Securities The following information represents securities sold by us for the period covered by this Annual Report on Form 10-K which were not registered under the Securities Act. Included are new issuances of Common Shares and Restricted Voting Shares and issuances of securities convertible into or exchangeable, redeemable or exercisable for Common Shares. We sold all of the securities listed below pursuant to the exemption from registration provided by Section 3(a)(9) and Section 4(a)(2) of the Securities Act, and Rule 144A, Regulation D, Regulation S or Rule 701 promulgated thereunder. 56 Table of Contents During the year ended December 31, 2021, we had the following issuances of unregistered securities: ● On January 4, 2021, we issued 852,154 Common Shares to holders of RSUs that had vested. We did not receive any cash proceeds from the issuance. ● On February 2, 2021, we completed the February 2021 Bought Deal for aggregate gross proceeds of $53,852,980 (C$69,028,750) at a price of C$7.00 per unit. The principal underwriters were Beacon Securities Limited (“Beacon”) and Canaccord Genuity Corp (“Canaccord”). We issued 9,861,250 units of the Company. Each unit was comprised of one Common Share in the capital of the Company and one-half of one Common Share purchase warrant. Each whole warrant entitles the holder to acquire one Common Share at an exercise price of C$9.00 per Common Share for a period of 24 months. We also issued 591,676 broker warrants that entitle the holder to purchase one Common Share for a period of 24 months from the closing of the offering at a price of C$7.00 per Common Share. ● On June 10, 2021, we issued 3,704 Common Shares to holders of RSUs that vested. We did not receive any cash proceeds from the issuance. ● On July 9, 2021, we issued 59,945 Common Shares to holders of RSUs that had vested. We did not receive any cash proceeds from the issuance. ● On December 13, 2021, we issued 2,210,731 Common Shares to holders of RSUs that had vested. We did not receive any cash proceeds from the issuance. ● During the year ended December 31, 2021, we issued 121,336 common shares on the exercise of options that had strike prices in the range of CAD$0.75 to CAD$1.55 per common share resulting in cash proceeds of USD$86,216. ● During the year ended December 31, 2021, we issued 3,772,640 Common Shares to warrant holders who exercised warrants during the period. We received $14,093,793 in cash proceeds from the exercises. ● We issued 55,232,940 Common Shares to holders of Restricted Voting Shares who exercised their right to exchange Restricted Voting Shares into Common Shares. We did not receive any cash proceeds from the issuance. Item 6. [Reserved].