Gage Cannabis Marks April 6 As Go-Public Date

Gage Growth Corp (CSE: GAGE), also known as Gage Cannabis, formally announced this morning that it is to soon commence trading on the Canadian Securities Exchange. The firm is expected to see its public markets debut on April 6, 2021.

In connection with the announcement this morning the company released a brief corporate update. The Michigan-based operator has begun ramping its cultivation efforts in the state as a result of strong demand, with cultivation capacity expected to expand from 400 lbs in November 2020 to that of 5,000 lbs per month by the end of 2021, with several milestones to occur over the coming months. A total of 13 cultivation facilities are expected to be involved by year end, with certain production being conducted on a contract basis.

In terms of its retail footprint, the company currently operates 7 dispensaries in the state, with the firm expecting to add an average of one store per month this year. The firm currently has 12 licenses under ownership, with the firm targeting to open 20 dispensaries by year end (which doesn’t exactly line up with an average of one store per month). Average month sales per dispensary is currently in excess of $1.0 million, which is the firms current target figure.

Finally, Gage has seen its founders, insiders, directors and officers agree to a voluntary lock-up agreement effective as of March 30, 2021. The lockup represents 67% and 72% of both basic and fully diluted ownership of the company on a voting rights basis.

Gage Cannabis is set to begin trading Tuesday.


Information for this briefing was found via Sedar and the companies mentioned. 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.

Leave a Reply

Video Articles

Gold Could Easily Double Again in This Run!? | Dan Wilton – First Mining Gold

$3300 GOLD: Every $100 Rise in Gold Means Pure Profit |  Ross Beaty – Equinox Gold

First Majestic Silver: The Santo Nino Discovery

Recommended

Emerita Resources Intends To Appeal Exploitation License Granted To Minera Los Frailes

First Majestic Silver: The Santo Nino Discovery

Related News

Trulieve Becomes Latest Brand To Exclusively Partner With Khalifa Kush

Wiz Khalifa is evidently making his rounds with his cannabis brand. This morning the firm...

Tuesday, February 22, 2022, 07:56:13 AM

Gage Cannabis To Open First Cookies Store In Canada

While most firms are focused on bringing their brands to the US market, it appears...

Friday, January 28, 2022, 08:29:56 AM

Gage Growth: Focused On Brand Building In Michigan – The Daily Dive

For our final episode of the Daily Dive this week, our host Cassandra Leah sits...

Friday, June 25, 2021, 01:30:00 PM

Gage Cannabis Posts Q3 Revenues Of $27.2 Million

Gage Growth Corp (CSE: GAGE) this morning posted its third quarter 2021 financial results, reporting...

Monday, November 29, 2021, 07:35:00 AM

Gage Growth Hits US$26.4 Million In Revenue, US$9.4 Million Net Loss In Q2 2021

Gage Growth Corp. (CSE: GAGE) this morning announced its financial results for Q2 2021, which...

Tuesday, August 24, 2021, 08:24:00 AM