Gage Growth (CSE: GAGE) (OTCQX: GAEGF), a leading high-quality premium cannabis brand and operator in Michigan, announced that it has finalized a senior secured term loan for $55 million in gross proceeds. According to the announcement, the company plans to use the funding to finance its retail acquisition strategy in Michigan and support anticipated future growth, as well as for general working capital purposes. The loan will provide maximum flexibility for GAGE to execute on its growth strategy. “This nondilutive financing provides Gage with maximum flexibility to execute on near-term acquisition opportunities,” said Gage CEO Fabian Monaco in the press release. “We received a great deal of interest and, through our advisors, had healthy participation in this transaction by a high-quality mix of institutional investors, led by Chicago Atlantic Advisors LLC. Together with TerrAscend, we are committed to building one of the most dominant cannabis companies in Michigan. With the closing of this debt financing, we are well positioned to execute swiftly and drive value for our shareholders.”
To view the full press release, visit https://ibn.fm/isxNe
About Gage Growth Corp.
Gage Growth is innovating and curating the highest-quality cannabis experiences possible for cannabis consumers in the state of Michigan and in Canada, and is also bringing internationally renowned brands to market. Through years of progressive industry experience, the company’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, 3 processing licenses and 15 provisioning centers, or dispensaries. For more information, visit the company website at www.GageUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to GAGE are available in the company’s newsroom at https://ibn.fm/GAGE
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