Company News

Pure Beauty premium flower products expand to first market outside of California

Gage Growth Corp. ("Gage" or the "Company") (CSE: GAGE) (OTCQX: GAEGF), a leading high-quality premium cannabis brand and operator in Michigan announced that the Company will launch products from Pure Beauty ("Pure Beauty"), starting Friday, February 11th . Gage previously announced an exclusive five-year partnership agreement in July 2021 with Pure Beauty to produce, process, wholesale and retail the brand's products in Michigan .

Gage Cannabis Co. Logo (CNW Group/Gage Cannabis Co.)

Pure Beauty is a California -based boutique cannabis brand that combines art and culture with sustainable and social justice practices. The launch will include Pure Beauty's signature product, "Babies", a 10 pack of 100% whole flower mini joints packaged in a sustainable plant starch mylar bag and will be available in Sativa, Hybrid and Indica options.

"We are excited to be introducing Pure Beauty products and experiences to Michigan and with Gage, a state and a partner we feel incredibly aligned with. Michigan is culturally and artistically thriving, so we feel confident it is a population that will embrace our products and ethos.  And we know Gage can consistently execute to our high standards—so the Pure Beauty consumer in Michigan is getting the same experience as the Pure Beauty consumer in California—while also advancing our shared values around the environment and social justice," said Imelda Walavalkar , CEO of Pure Beauty.

"Brand recognition drives success in the cannabis industry, and Pure Beauty has generated an impressive following through its exceptional products and distinctive brand identity," said Fabian Monaco , CEO of Gage. "Partnering with leading brands like Pure Beauty will continue to elevate and diversify one of the fastest growing cannabis markets and provide Michigan customers and patients with unparalleled cannabis experiences."

In the coming months, Pure Beauty's full selection of pre-rolls will be available in Gage dispensaries. In-store activations to celebrate the brand launch will take place at Gage retail locations in Ferndale , Grand Rapids , Kalamazoo (Stadium Dr.), Lansing and Adrian .

About Gage Growth Corp.

Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and Canada , and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm's founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage's portfolio includes three city and state cultivation and processing assets, and 19 provisioning centers (dispensaries).

Instagram: @gagemichigan, @gagecannabisca
Facebook: @gageusa
Twitter: @gagecannabisco

About Pure Beauty

Founded in 2017 by Imelda Walavalkar , Tracy Anderson and Irwin Tobias Matutina , Pure Beauty is the intersection of sustainable premium cannabis products, art & culture and social justice. Since its inception, Pure Beauty has been committed to social and environmental responsibility as reflected by its industry-first eco-conscious packaging, progressive cultivation practices and internal and external practices around social equity, diversity and criminal justice reform. Pure Beauty offers consistent, resinous, potent flower (in multiple strains and genetics), pre-rolled joints (including .35mg "babies"), pre-rolled cannabis "cigarettes," and the first live resin beverage in California , Little Strong Drink. Pure Beauty's products are available for purchase throughout California and Michigan .

The Pure Beauty Drugstore , an ecommerce platform that expands the brand beyond cannabis into a lifestyle, houses a highly curated selection of merchandise within the brand's major cultural pillars of art, music, furniture, apparel, and accessories.

Learn more at purebeautypurebeauty.co.
Instagram: @purebeautypurebeauty

Caution Regarding Cannabis Operations in the United States

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States . While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.

Explanatory Note Regarding the Company's Operations

References in this news release to the Company and its operations and portfolio are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company.  For additional information, please refer to the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com .

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to the launch of the Pure Beauty products and the timing thereof. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information including, but not limited to, those risks disclosed in the Company's most recently filed management's discussion and analysis and other disclosure documents available on the Company's profile at www.sedar.com . The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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SOURCE Gage Cannabis Co.

News Provided by PR Newswire via QuoteMedia

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Gage Cannabis & Cookies to Launch Flagship Cannabis Dispensary in Toronto, Canada

Gage Cannabis & Cookies to Launch Flagship Cannabis Dispensary in Toronto, Canada

Gage Growth Corp. ("Gage" or the "Company") (CSE: GAGE) (OTCQX: GAEGF), a leading high-quality premium cannabis brand and operator in Michigan today announced plans to open a flagship Cookies dispensary in the heart of Toronto, Canada ("Cookies Toronto") on Saturday, January 29 th 2022 at 9am ET . Cookies one of the best-known cannabis brands in the world, will be located at 278A Queen Street West . Cookies Toronto will offer Cookies and Gage branded products cultivated by their exclusive collective production partner, NOYA Cannabis Inc.

Gage Cannabis Co. Logo (CNW Group/Gage Cannabis Co.)

Cookies Toronto will become the 12 th dispensary in North America operated by Gage and the first Cookies store in Canada . The flagship dispensary, operated by Gage through an exclusive partnership with Cookies, will carry the entire collection of Cookies products featuring hand-selected strains from rapper, entrepreneur and Co-Founder and CEO of Cookies, Berner, and his renowned breeder and cultivation partner, Jai. These hand-selected strains will include GP20, Georgia Pie, Medellin , Lions Mane, Soap and more. In addition to these iconic Cookies strains, the partnership will introduce additional Cookies brands such as Lemonnade, Minntz, Runtz, Grandiflora, Powerzzzup, RTJ and Collins Ave. to Canadian adult-use consumers.

"Some of my favorite strains growing up originated from Canada - the { Nade } and { champagne Aka Pelli } were staples," said Berner, Co-Founder and CEO of Cookies. "It feels good to be in position to diversify the current flavor profile on the Canadian market, with a flagship store in Toronto . I think the Canadian connoisseur will be proud to have Cookies, and Noya already has our standards dialed in as far as cultivation goes, and made a powerful introduction for the Cookies brand in Canada . Introducing our customer journey to the Canadian markets is something I've been wanting to do for a long time now, and we hope Canada appreciates the attention our customers get and deserve while shopping at Cookies."

"We are super excited for the iconic launch of the first Cookies store in Canada ," said Fabian Monaco , CEO of Gage. "Working with Berner and his team to finally introduce Cookies to the Canadian market validates the painstaking processes we've developed at Gage, and we're eager to provide Canadian audiences with our unique and engaging retail platform. Launching the first Cookies store in Canada will bring an unparalleled experience to our growing consumer community while offering direct access to one of the leading brands in the cannabis industry."

About Gage Growth Corp.

Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and Canada , and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm's founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage's portfolio includes three city and state cultivation and processing assets, and 19 provisioning centers (dispensaries).

For more information about Gage Growth Corp., visit www.gagecannabis.com or www.gageinvestors.com .

Instagram: @gagemichigan, @gagecannabisca, @cookies.canada, @cookies.toronto
Facebook: @gageusa
Twitter: @gagecannabisco

About Cookies

Cookies, founded in 2010 by Billboard-charting rapper and entrepreneur Berner and Bay Area breeder and cultivator Jai, is the most globally recognized cannabis company in the world. Cookies values the power of the plant and focuses on creating game-changing genetics. The company offers a collection of over 70 proprietary cannabis strains and more than 2,000 products. Cookies also actively works to enrich communities disproportionately impacted by the War on Drugs through advocacy and social equity initiatives. Headquartered in San Francisco , the company opened its first retail store in 2018 in Los Angeles , and has since expanded to over 40 retail locations in 17 markets across 4 countries. Cookies was named one of America's Hottest Brands of 2021 by AdAge; the first cannabis brand to ever receive this accolade.

Learn more at cookies.co.

Instagram: @cookiesenterprises
Facebook: @cookies_global
Twitter: @cookiesglobal

About NOYA

Founded in Hamilton, Ontario in 2014, NOYA Cannabis Inc. is a licensed producer under the Cannabis Act. The company received its cultivation license in 2017, and its sales license in 2018. The company has positioned itself as a premium white label producer and is working with the biggest and best cannabis brands in the world. The company's mission is to distribute and cultivate premium craft cannabis to match the needs of the market.

For more information on NOYA Cannabis Inc. visit www.noyagrow.ca .

Instagram: @NoyaGrow
Twitter: @NoyaGrow

Caution Regarding Cannabis Operations in the United States

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States . While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.

Explanatory Note Regarding the Company ' s Operations

References in this news release to the Company and its operations and portfolio are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company.  For additional information, please refer to the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com .

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to the opening of the Cookies Toronto store. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information including, but not limited to, those risks disclosed in the Company's most recently filed management's discussion and analysis and other disclosure documents available on the Company's profile at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Cookies Logo (CNW Group/Gage Cannabis Co.)

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SOURCE Gage Cannabis Co.

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Gage Growth Corp. Adds Ann Arbor Retail Location to Portfolio

Gage Growth Corp. Adds Ann Arbor Retail Location to Portfolio

Gage Growth Corp. ("Gage" or the "Company") (CSE: GAGE) (OTCQX: GAEGF), a leading high-quality cannabis premium brand and operator in Michigan today announced that it has added a provisioning center (dispensary) to its portfolio located in Ann Arbor . The Company now has 18 provisioning center locations in its retail portfolio.

Gage Growth Corp. Logo (CNW Group/Gage Cannabis Co.)

Gage's first retail dispensary in Ann Arbor will be located at 2460 West Stadium Boulevard, a heavily trafficked area within three miles of downtown Ann Arbor and the University of Michigan campus. The Company will operate its newest location as a Cookies branded store and expects to begin serving patients and adult-use consumers in Q1 2022.

Since announcing its exclusive partnership with the international cannabis lifestyle brand in 2019, Gage has opened Cookies dispensaries in Detroit and Kalamazoo . In August 2021 , Gage extended its existing agreement as Cookies' exclusive cultivator, manufacturer and distributor in Michigan until 2026.

" Ann Arbor paved the way for Michigan's first adult-use retail experience, and we are proud to introduce Cookies' highly coveted retail experiences to the residents and visitors of this vibrant community," said Fabian Monaco , CEO of Gage. "We look forward to bringing our portfolio of nationally-recognized brands to Ann Arbor while continuously strengthening Michigan's position as a leading cannabis market in the U.S."

About Gage Growth Corp.

Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm's founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage's portfolio includes three city and state cultivation and processing assets, and 18 provisioning centers (dispensaries).

Instagram: @gagemichigan
Facebook: @gageusa
Twitter: @gagecannabisco

Caution Regarding Cannabis Operations in the United States

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States . While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.

Explanatory Note Regarding the Company's Operations

References in this news release to the Company and its operations and portfolio are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company.  For additional information, please refer to the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com .

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to future growth and the opening of the Ann Arbor provisioning center. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information including, but not limited to, those risks disclosed in the Company's most recently filed management's discussion and analysis and other disclosure documents available on the Company's profile at www.sedar.com . The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/gage-growth-corp-adds-ann-arbor-retail-location-to-portfolio-301453192.html

SOURCE Gage Cannabis Co.

News Provided by PR Newswire via QuoteMedia

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Gage Growth Corp. Announces Grand Opening of Kalamazoo Stadium Dispensary

Gage Growth Corp. Announces Grand Opening of Kalamazoo Stadium Dispensary

Gage expands retail footprint to 11 dispensaries throughout Michigan

Gage Growth Corp. ( " Gage" or the " Company") (CSE: GAGE) (OTCQX: GAEGF), a leading high-quality cannabis premium brand and operator in Michigan today announced the grand opening of its second dispensary in Kalamazoo . Gage Kalamazoo Stadium will begin serving medical and adult-use customers on Thursday, December 23rd at 9am with a soft opening.

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Gage Growth Corp. Announces DTC Eligibility and Closing of Sturgis Dispensary

Gage Growth Corp. Announces DTC Eligibility and Closing of Sturgis Dispensary

Gage Growth Corp. ("Gage" or the "Company") (CSE: GAGE) (OTCQX: GAEGF), a leading high-quality cannabis premium brand and operator in Michigan is pleased to announce that its subordinate voting shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company ("DTC") and can now be both traded and serviced through DTC's electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States . This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

"This is another important milestone in making Gage's shares accessible to the widest audience possible," said Fabian Monaco , CEO of Gage. "Being DTC eligible will simplify and enhance the process for transferring the Company's shares between brokerages in the United States and will provide increased liquidity."

Closing of the Sturgis Dispensary Acquisition

The Company is also pleased to announce that it has closed its acquisition of a dispensary (the "Sturgis Dispensary") located in Sturgis, Michigan . The Sturgis Dispensary is expected to be re-branded as a Cookies store and marks the 17 th license in the Company's retail portfolio. The dispensary is strategically located near the state of Indiana .

About Gage Growth Corp.

Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm's founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage's portfolio includes city and state approvals for 19 "Class C" cultivation licenses, three processing licenses and 17 provisioning centers (dispensaries).

For more information about Gage Growth Corp., visit www.gagecannabis.com or www.gageinvestors.com .

Instagram: @gagemichigan
Facebook: @gageusa
Twitter: @gagecannabisco

Explanatory Note Regarding the Company' s Operations

References in this news release to the Company and its operations and assets are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company.  For additional information, please refer to the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com .

Caution Regarding Cannabis Operations in the United States

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States . While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to future growth. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information including, but not limited to, those risks disclosed in the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com . The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

View original content to download multimedia: https://www.prnewswire.com/news-releases/gage-growth-corp-announces-dtc-eligibility-and-closing-of-sturgis-dispensary-301436910.html

SOURCE Gage Cannabis Co.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2021/03/c9404.html

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Gage Growth Corp. Announces Record Third Quarter 2021 Results and Provides Business Update

Gage Growth Corp. Announces Record Third Quarter 2021 Results and Provides Business Update

  • Record Q3 2021 revenue of $27.2 million , an increase of 119.6% YoY and 3.2% quarter over quarter
  • Announced proposed arrangement pursuant to which TerrAscend Corp. will acquire all of the issued and outstanding subordinate voting shares of Gage
  • Closed on a $55 million senior secured term loan
  • Ended the quarter with $17.7 million of cash and $72.3 million of pro forma cash 1
  • Gross margins of 36.5% compared to 34.2% in Q2 2021, sequential quarter growth of 230 basis points
  • Q3 2021 average selling price of dried flower of approximately $4,900 /lb vs. Michigan average of approximately $3,400 /lb – 44% premium
  • The state of Michigan posted $164 million of cannabis sales in October, which equates to approximately $1.96 billion when annualized, positioning Michigan as the third largest cannabis market in the United States based on this run-rate
  • Eleven cultivation facilities in operation today (three Gage operated and eight contracted cultivation assets) compared to three cultivation facilities in Q3 2020
  • The Company introduced Gage branded vape carts in October 2021 , which currently account for almost 80% of the overall vape cart sales so far in November

Gage Growth Corp. ("Gage" or the "Company") (CSE: GAGE) (OTCQX: GAEGF), a leading high-quality cannabis premium brand and operator in Michigan today reported its record financial results for the three and nine months ended September 30, 2021 . All currency references used in this press release are in U.S. dollars unless otherwise noted.

Financial Highlights for the quarter ended September 30, 2021

(in millions of US Dollars)

Q3-2021

Q2-2021

Revenue

$27.2

$26.4

Gross Profit

$9.9

$9.0

Gross Margin %

36.5%

34.2%

Adjusted EBITDA

($1.8)

($2.0)

Net Loss

($3.4)

($9.4)

Cash, End of Period

$17.7

$32.8

Pro Forma Cash 1

$72.3

N/A

See "Non-IFRS Financial Measures" below for more information regarding Gage's use of Non-IFRS financial measures and other reconciliations.

1. Represents cash and cash equivalents at the end of Q3 2021, including the gross proceeds from the recently closed $55 million senior secured debt financing.

Revenue increased to a record of $27.2 million in the third quarter of 2021, as compared to $26.4 million in the second quarter of 2021, a 3.2% increase. Gross margin, before impact of biological asset adjustments, was 36.5% in the third quarter of 2021 compared to 34.2% in the second quarter of 2021. The 230 basis point improvement quarter over quarter in gross margin to 36.5% is due to a greater mix of higher margin sales from retail locations and cultivation capacity expansion via Gage operated cultivation assets, contract grow partners and lower input costs from dedicated wholesale partners. The Company anticipates continuing its quarter over quarter margin expansion in Q4 2021 as in-house branded vape cart sales have recently accounted for over 80% of the category month-to-date in November.

Management Commentary

"In the third quarter of 2021, Gage had a record performance across all financial and operating metrics," said Fabian Monaco , CEO of Gage. "We will continue to invest while improving our margins. Moreover, as we further introduce our in-house branded concentrate products, we expect our gross margin to further improve over the next two quarters."

Mr. Monaco continued, "We are very pleased with the announcement of the proposed acquisition of Gage by TerrAscend. Our shared strategic and corporate values make this combination a strong fit, and I am extremely excited and looking forward to executing on our shared strategy of deep vertical integration and scale in our core markets. In addition, I am also very pleased with the closing of our recent debt financing which further strengthens our balance sheet."

Mr. Monaco concluded, "Overall, we will continue to execute on our growth strategy in the remaining months of 2021 and into 2022. With a strong balance sheet, we are well positioned to execute on our near-term acquisition opportunities that will fuel the overall growth of the Company."

Operational Updates and Developments

1. The Company closed on a senior secured term loan (the "Term Loan") for aggregate
gross proceeds of US$55 million

  • Gage intends to use the proceeds (i) to finance the Company's retail acquisition strategy in Michigan , (ii) to support the Company's future growth, and (iii) for general working capital purposes.
  • The Term Loan bears interest at a per annum rate equal to the greater of 7.00% plus prime rate and 10.25%, payable monthly in arrears, with a maturity date of November 30, 2022 .

2. Gage continues to execute on its retail expansion strategy

  • In addition to 10 retail dispensaries in operation today, the Company is in active discussions with multiple retail operators in Michigan to potentially acquire over 10 retail locations in the coming months.
  • The Company successfully acquired another dispensary located in Detroit . Moreover, Gage expects to close another proposed acquisition of a dispensary in Sturgis by the end of November. Both dispensaries are expected to be rebranded as Gage and Cookies stores, respectively. The Company now has 17 dispensaries in its portfolio with the inclusion of the Sturgis acquisition.
  • The Company's second Kalamazoo dispensary is now fully built and expected to open in December.

3. Introduction of Gage branded concentrate products

  • During the fourth quarter, the Company introduced in-house branded vape carts, which on average, are expected to more than double the Company's gross margin in this product category.
  • Gage branded vape carts in the month of November thus far account for almost 80% of the category compared to a low single digit percentage in the same period a year ago.
  • In the month of November, the Company has been averaging approximately 18,000 Gage vape carts sold per week.

4. Acquisition of Gage by TerrAscend on track to close in early 2022

  • On November 12, 2021 , the Company announced that shareholders voted in favor of the special resolution, approving the previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act pursuant to which TerrAscend Corp. ("TerrAscend") will acquire all of the issued and outstanding securities of Gage (the "Arrangement").
  • On November 15, 2021 , the Company announced that the Ontario Superior Court of Justice (Commercial List) has issued a final order approving the Arrangement.

Conference Call

The Company will host a conference call on Monday, November 29, 2021 at 8:30 a.m. ET to review its operational and financial results, and provide an update on current business trends.

To join the call, dial 1-833-366-1123 toll free from the United States or Canada or 1-412-317-5786 if dialing from outside those countries.

The call will be available for replay until Monday, December 13, 2021 . To access the telephone replay, dial 1-877-344-7529 toll free from the United States , 1-855-669-9658 from Canada or 1-412-317-0088 if dialing from outside those countries, and use the following replay pin number: 2622301.

Please call the conference telephone number 5-10 minutes prior to the start time.

A live audio webcast of the call will also be available at https://services.choruscall.com/mediaframe/webcast.html?webcastid=PMJIguj7 .

About Gage Growth Corp.

Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and Canada , and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm's founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage's portfolio includes city and state approvals for 19 "Class C" cultivation licenses, three processing licenses and 17 provisioning centers (dispensaries).

For more information about Gage Growth Corp., visit www.gagecannabis.com .

Instagram: @gagemichigan
Facebook: @gageusa
Twitter: @gagecannabisco

Explanatory Note Regarding the Company's Operations

References in this news release to the Company and its operations and assets are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company.  For additional information, please refer to the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com .

Non-IFRS Financial Measures

The Company has provided certain non-IFRS financial measures including "Gross Margin" and Adjusted EBITDA. These non-IFRS financial measures do not have a standardized definition under IFRS, nor are they calculated or presented in accordance with IFRS and may not be comparable to similar measures presented by other companies. The Company defines "Gross Margin" as Gross Profit before fair value of inventory and biological assets divided by Revenue. The Company calculates Adjusted EBITDA as net income as reported adjusted to exclude the impact of the following items:  fair value adjustment of sale of inventory, fair value adjustment on growth of biological assets, provision for income taxes, foreign exchange (gain)loss, change in fair value of investments, interest expense, share based compensation, depreciation and amortization, costs associated with public listing, impairment loss, loss on financial instruments and gain on sale of fixed assets.

The Company has provided these non-IFRS financial measures as supplemental information and in addition to the financial measures that are calculated and presented in accordance with IFRS. The Company believes that these supplemental non-IFRS financial measures provide a valuable additional measure to use when analyzing the operating performance of the business. As other companies may calculate these non-IFRS measures differently than the Company, these metrics may not be comparable to similarly titled measures reported by other companies. These supplemental non-IFRS financial measures should not be considered superior to, as a substitute for or as an alternative to, and should only be considered in conjunction with, the IFRS financial measures presented herein.

See the Company's management's discussion and analysis for the three and nine months ended September 30, 2021 (the "Q3 2021 MD&A") for a detailed reconciliation of Adjusted EBITDA to Net Income / (Loss). The Company's financial statements for the three and nine months ended September 30, 2021 and the Q3 2021 MD&A are available on SEDAR at www.sedar.com .

Caution Regarding Cannabis Operations in the United States

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States . While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Gage's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Gage's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, statements about the anticipated expansion of the Company's operations and growing capacity in Michigan , the Company's prospects and the cannabis market generally in Michigan , the use of proceeds and the potential benefits of the Term Loan, the completion of the Arrangement and potential benefits thereof, the completion of proposed acquisitions in Michigan , the impact of the Company's in-house branded vape carts on margins in the vape category.

By identifying such information and statements in this manner, Gage is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Gage has made certain assumptions. Although Gage believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: unexpected costs or delays in the completion of the Company's proposed dispensaries and other operations; negative results experienced by the Company as a result of general economic conditions or the ongoing COVID-19 pandemic; delays in the ability of the Company to obtain certain regulatory approvals; unforeseen delays or costs in the completion of the Company's construction projects; adverse changes to demand for cannabis products; ongoing projects by competitors that may impact the relative size of the Company's operations; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com .

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Gage does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Third Party Information

This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources.

View original content to download multimedia: https://www.prnewswire.com/news-releases/gage-growth-corp-announces-record-third-quarter-2021-results-and-provides-business-update-301432767.html

SOURCE Gage Cannabis Co.

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The Greenrose Holding Company Reports First Quarter 2022 Results

The Greenrose Holding Company Reports First Quarter 2022 Results

  • Focus on Optimizing Inventory in Connecticut and Production Capacity in Arizona
  • Improving Positioning for Early-Stage Recreational Market Opportunities
  • Provides Revised Guidance for the Full Year Ended December 31, 2022

The Greenrose Holding Company Inc. (OTC: GNRS, GNRSW) ("Greenrose" or the "Company"), a multi-state grower and producer of cannabis brands and products, is reporting financial and operating results for the first quarter ended March 31, 2022 .

First Quarter 2022 Financial Summary (Non-GAAP)

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36 of the Best Ideas Companies to Present at the Spring into Action - Best Ideas Investor Conference on May 16th - 20th, 2022

36 of the Best Ideas Companies to Present at the Spring into Action - Best Ideas Investor Conference on May 16th - 20th, 2022

The Spring into Action- Best Ideas Virtual Investor Conference will take place on May 16th - 20th, 2022, where 36 SmallCap, MicroCap and NanoCap public companies will be presenting via virtual webcast to a global investor audience

The Spring into Action: VIRTUAL begins on Monday, May 16th, 2022, with a Biotech Discovery Day. Company presentations begin at 1:30 PM Eastern Time. Presentations will be webcast on Monday, Tuesday and Wednesday (May 16th, 17th and 18th) with 1x1 Meetings being held on Thursday and Friday (May 19th and 20th).

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TerrAscend Launches First-Ever Concentrates in New Jersey

Liquid Live Resin Vape Cartridges and Live Resin Crumble Now Available Exclusively at New Jersey Apothecarium Dispensaries

 TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the first-ever launch of cannabis concentrates in the state of New Jersey . Kind Tree Liquid Live Resin Vape Cartridges and Kind Tree Live Resin Crumble are available exclusively at The Apothecarium Maplewood and Phillipsburg locations. The company also commenced sales of adult-use cannabis-infused edibles under its Valhalla brand.

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Adastra Holdings Announces New Director

Adastra Holdings Announces New Director

Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) ("Adastra" or the "Company"), a Health Canada Licensed cannabis company focused on processing, sales, organoleptic testing, and analytical testing, is pleased to announce the appointment of Smoke Wallin to the Company's board of directors.

Adastra Holdings brand ticker (CNW Group/Adastra Holdings Ltd.)

"We are extremely honoured and privileged to welcome Mr. Wallin to Adastra's board of directors," said Michael Forbes , CEO of Adastra. "Mr. Wallin is an accomplished leader and international business builder in the CPG, cannabis, health and wellness, food and beverage, distribution, hospitality and technology industries. Mr. Wallin is a seasoned executive and serial entrepreneur who has a wealth of knowledge in the cannabis industry. I am confident that he will be an important contributor to our Company's long term success."

Mr. Wallin added, "I'm excited to support Michael and the team at Adastra as they build on an already impressive set of production assets in the Canadian cannabis market, with an eye toward additional capabilities in some super innovative forward looking therapeutics including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD. I believe in their strategy and the team's ability to execute their growth plan profitably, something quite rare in this rapidly growing market."

Mr. Wallin is a highly accomplished CEO, entrepreneur, leader, board member and philanthropist with more than 25 years of success across the consumer products, beverage, cannabis, distribution and technology industries. He is a partner and Managing Director for STS Capital Partners; has frequently served as CEO for new and existing businesses; has been directly involved in $1.7 billion in mergers and acquisitions and financings; and has acquired, created, or sold 50+ brands and companies. He has been recognized with the Ernst & Young Entrepreneur of The Year award, and the Vanderbilt Business "Distinguished Alumni Award." He was also named one of the 100 most influential leaders in the cannabis industry by High Times Magazine. Smoke earned an MBA from Vanderbilt University and a B.S. degree in Agricultural Economics from Cornell University's Dyson School of Applied Economics at the Cornell SC Johnson College of Business.

About Adastra Holdings Ltd.

Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications. Adastra is recognized as a high-capacity processor and co-manufacturer throughout Canada . Adastra is known for its popular line of Phyto Extractions branded cannabis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC , focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances Dealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a drug formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B .C. Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic therapies, working alongside doctors and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients. For more information, visit: www.adastraholdings.ca.

Forward-Looking Information

This news release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements with respect to: (i) the Company's long-term success; (ii) the Company building on production assets in the Canadian cannabis market and additional therapeutic areas including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD; and (iii) the Company's execution of its growth plan. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; (iii) changes in regulations surrounding cannabis as a controlled substance; and (iv) other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

SOURCE Adastra Holdings Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/16/c7339.html

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Cresco Labs Announces the Expiration of the HSR Act Waiting Period for the Proposed Acquisition of Columbia Care

Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) ("Cresco Labs" or the "Company") and Columbia Care Inc. (NEO:CCHW) (CSE:CCHW) (OTCQX:CCHWF) (FSE:3LP) ("Columbia Care"), today announced the expiration of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") in connection with Cresco Labs' previously announced proposed acquisition of Columbia Care (the "Transaction").

"Completion of the HSR milestone is a major step towards closing the acquisition of Columbia Care. We've been concurrently working on our divestiture process and working with our state regulators to align with our previously disclosed estimated closing timeline of year-end," said Charles Bachtell, CEO of Cresco Labs. "With this acquisition, we will be able to leverage our best selling cannabis portfolio 1 across the most exciting footprint in cannabis and further develop our leading positions with exposure to all ten of the largest projected revenue states in 2025, according to BDSA."

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