Gage Cannabis Co announced it plans to list on the Canadian stock market in the first quarter of 2021 according to company sources. The president told Reuters, the U.S.-based dispensary operator is looking to capitalize on strong demand for weed during lockdowns. Gage, which currently focuses solely on the Michigan market, is expecting sales of around $13.2 million in the third quarter, up 11% from the previous three months. “We have seen tremendous growth in the Michigan market in 2020 and Gage has been diligent in capturing that growth through its operating assets,” said Fabian Monaco, president of Gage Cannabis. Weed companies in the United States have reaped the benefits of cannabis businesses being allowed to stay open as essential services during the COVID-19. Additionally, the company outlined plans to open eight to ten new stores by the end of this year and will consider expanding to markets beyond Michigan next year.
Shariq Khan, Business & Financial News, U.S & International Breaking News | Reuters, 10/02/2020 07:07:21