Stuart Kane Attorney Cole Morgan Successfully Closes Sale of Dispensary License to Planet 13
Stuart Kane LLP is pleased to announce that attorney Cole Morgan has successfully closed the sale of a cannabis retail license and related leasehold interest located in Santa Ana, California, and certain other assets, on behalf of clients Newtonian Principles, Inc. (“Newtonian”) and Warner Management Group, LLC (“Warner”). The purchaser was Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) (“Planet 13”), a leading publically-traded vertically-integrated cannabis company.
The 40,000 square foot site in Santa Ana is planned as one of the largest cannabis dispensary complexes in the world, and will serve as Planet 13’s first location in California. Planet 13 currently operates the Planet 13 Las Vegas SuperStore in Nevada. Newtonian and Warner were pleased to receive a combination of cash and stock for the sale of the license and leasehold interest.
Cole Morgan focuses his practice on the areas of corporate and commercial real estate law. He handles all aspects of real estate and corporate transactions, including negotiation and drafting of agreements, conducting due diligence, and advising on legal and compliance issues. He has assisted numerous landlords and tenants operating in the cannabis industry, including vertically integrated companies, with transactional and compliance matters.