Gage Cannabis Closes $50 Million Reg A+ Financing, Seeks To Go Public In Q1 2021
DETROIT – Forbes has reported today that Gage Cannabis Co. a leading high-quality craft cannabis brand and operator in Michigan, have closed at $50M Reg A+ financing round. It previously secured a minimum investment of US$20 million from funds advised by JW Asset Management (JWAM), LLC as part of the Company’s Regulation A, Tier 2, equity financing.
Both investment will provide Gage with resources to accelerate the expansion of its retail and cultivation footprint, pursue accretive acquisitions, and help position and solidify Gage position in Michigan. JWAM has been an active investor in the cannabis sector since 2014, investing in many of the industry leaders, including TerrAscend Corp.
Fabian Monaco, President of Gage, previously remarked on the JWAM investment: “We are confident in executing on our 2021 goals, driven by the growth of both the cultivation and dispensary arms of our business. We are fortunate to have developed a strong relationship with JWAM and are grateful for their support as we capitalize on the opportunities ahead in Michigan.”
Gage’s Michigan footprint has grown significantly since their first retail opening in the state in September 2019. Today, the Company supports five provisioning centers (dispensaries), three cultivation facilities, and one processing facility across the state of Michigan, with plans to double their retail footprint by the end of the first quarter of 2021.
Go-public Plan in Q1 2021
The Company continues to pursue a go public transaction which it tentatively expects to complete in the first half of 2021.
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