NICI Quick Take
GAGE Cannabis is a private, licensed cannabis company based in Michigan, operating three licensed cultivation and processing centers that serve 13 dispensaries in the state. The company grows its plants in small batches, which are turned into finalized products of dry flower, pre-rolls, concentrates, and topicals.
Currently, the company operates three dispensaries in Michigan, located in the cities of Adrian, Ferndale, and Detroit. 10 more locations dispersed through the state are yet to open, but the most recent and notable opening was the Cookies flagship dispensary on January 30, 2020. Cookies founder and CEO Bernie is a prolific rapper who has grown his brand to become one of the biggest cannabis brands in the country. The fact that Gage is opening and running these dispensaries under the Cookies brand name is a huge bonus for the company, as its already a nationally recognized and trusted brand that people are familiar with and it won’t have to spend as many resources on marketing.
President Fabian Monaco has done a good job in branding his company’s retail experiences as a “high-end marijuana experience”. With a long history in finance, there’s no doubt that he was a significant factor in the $30 million GAGE raised in funding.
Monaco and Ex-CEO of Canopy Growth, Bruce Linton are two long time business partners. The two companies have a history as GAGE had previously licensed a brand for use in Ontario, Canada, through a partially-owned Canopy Growth subsidiary. This business history certainly played a role when Linton accepted the role of executive chairmen on Gage’s board of directors.
|NICI Subsector||Cultivator, Processor, Retailer|