Gage Growth (CSE:GAGE) CEO Fabian Monaco says the company is marching towards being the number one market share leader in the state of Michigan after it recorded revenue of $17.6 million for Q1 2021, an increase of 219.4 percent year-on-year and 67.9 percent quarter-overquarter. Gage ended the quarter with over $43.6 million in cash.
“We’re in Q3, Q4, and obviously in 2022 as a whole, you’re really going to see some outsized growth from Gage. We’re at the forefront of people’s minds when they think not only about cannabis, but Michigan cannabis as well,” Monaco shared.
At the beginning of Q3 2021, Gage added two retail locations to its portfolio, entered into a contract grow agreement with a third party Michigan cannabis license holder and secured an exclusive five year partnership with Pure Beauty after it closed an exclusive deal with Khalifa Kush.
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“Our goal is to have 10 contract growth, 13 different facilities and 20 retail stores across Michigan at the end of the year. We really like controlling the brand narrative, essentially from seed all the way to smoke. You’re going to see some pretty big margin expansion as we get to the end of 2021 and into 2022,” said Monaco.
In 2020, Gage Cannabis sealed a US$20 million commitment from JW Asset Management. According to Monaco, JW is a massive differentiating factor as the company continues to excel, with Jason Wild, founder and president of JW, being extremely supportive financially and strategically.
Watch the full interview with Gage Growth CEO Fabian Monaco above.
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