Gage Cannabis has reportedly filed for a direct listing in Canada. Reported this morning by Reuters, the company is expected to direct list on the Canadian Securities Exchange as per undisclosed sources.
The company will look to list on the CSE as a result of its operations being based in the US, where cannabis operations remain federally illegal. Reuters sources have indicated that the company will look to begin trading in the first part of April, under the ticker symbol “GAGE”. A bulletin has yet to be filed by the exchange however.
Gage, which is notably backed by Bruce Linton whom currently is the firms Executive Chairman, currently has operations primarily focused on the state of Michigan where it has 7 locations open under the Gage and Cookies banners along with plans for an additional six as per the firms website.
The announcement follows the news last fall wherein the company was approved for a Tier 2 Regulation A offering by the SEC for a $50.0 million offering. Documents filed at the time had indicated that the company generated revenues of $17.5 million for the six months ended June 30, 2020.
Further information on the listing was not provided.
Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
