Planet 13 and a subsidiary of Harvest Health & Recreation Inc (OTCMKTS: HRVSF)
Harvest Health & Recreation Inc moved into a definitive license purchase deal, in which case they came up with a new subsidiary. It will be named Planet 13 Florida Inc.
Details about the new formation
The newly formed subsidiary will swing into operation, but it will first have to obtain a Florida Department of Health license. The license will serve it with all the rights to run operations as a Medical Marijuana Treatment Center.
The Licensed Medical Marijuana Treatment Centers happen to be the only ones with all the rights to sell medical marijuana cannabis to the qualifying caregivers and patients. The current state of affairs provides that the MMTCs are the only ones with the rights to cultivate, process, transport, and dispense the product. Many people worldwide continue to learn about medical marijuana and its potential health benefits.
The landscape has been changing quickly since August 26, 2021, where reports pointed out 22 companies having their MMTC licenses. The companies had about 371 dispensing locations spread out across Florida. It is somewhat encouraging for all the license holders to understand that there aren’t any restrictions barring them from unveiling any number of dispensaries that are in a position to unveil. They also enjoy all the rights to do as they wish and afford when it comes to establishing cultivation and processing facilities they need to operate.
The Co-CEO of Planet 13, Larry Scheffler opines, “Florida has long been one of our most coveted markets with over 20 million residents, 130 million annual visitors and incredible consumer demand already demonstrated in the medical program. It was important for us to enter the market prior to a transition to adult-use to put the pieces in place to capitalize on this market in both the short and long term,” said Larry Scheffler, Co-CEO of Planet 13.