Good Is Just Not Good Enough For Michigan-Based Gage Cannabis
Don’t miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga’s Virtual Cannabis Capital Conference on October 15. Among the attendees is Gage.
Gage Cannabis is a Michigan-based, vertically integrated cannabis company that operates on the idea that “good is just not good enough.” Along with having former CEO and Chairman of Canopy Growth Corp (TSX:WEED) (NYSE:CGC), Bruce Linton, as Gage’s Executive Chairman, the brand’s business model is built on quality cultivation and curation.
From the quality of its cannabis to its retail design, Gage has created a unique dispensary experience. Its open floor-plan and staple orange and gray coloring, create a sporty vibe for the store’s aesthetic. Gage has even received multiple awards for the store’s interior design from Leafbuyer and the Detroit Metro Times.
One of the reasons Gage targeted Michigan as its location of choice is due to the state’s fast-growing legal cannabis market and consumption habits amongst consumers. Michigan is already a top-five cannabis market based on last month’s sales within the state, with 502% growth in adult-use sales from January to August of this year. In the last two months, Michigan posted monthly sales of over $105 million.
The brand currently operates three licensed cultivation assets that serve five provisioning centers throughout Michigan. Gage’s current and soon-to-open locations will cover 90% of Michigan’s population within a 1-hour radius, with a dispensary expansion plan that will see another three to four locations being operational by the end of this calendar year.
Gage’s brand portfolio covers a wide range of cannabis-related products. Their line-up of products includes cannabis hardware, flower, edibles, concentrates, and vape pens. Including exclusive brand partnerships with some of the most illustrious brands in the country, such as Cookies, Runtz, Lemonnade, Grandiflora, O.penVAPE, Collins Ave and many more.
When it comes to their product offerings, Gage works to implement sustainable and responsible operations. Gage team affiliates grow all of their cannabis indoors in small batches using 100% hydroponic cultivation methods, and the cannabis is then hand trimmed and hang dried. Gage ensures that every gram of cannabis sold is consistently of the highest quality with superb customer experience. This is evidenced by Gage’s average basket size of $180 compared to Michigan and California’s state average basket size of $85 and $65, respectively.
On a retail level, in addition to Gage branded retail stores, Gage operates the 8 Mile Cookies store in the city of Detroit, the first Cookies branded store outside of California. It is one of the top-performing dispensaries in the state while operating as a medical-only dispensary. Gage expects exponential growth when adult-use becomes permissible in the city of Detroit.
As Michiganders, Gage states that they are invested in the health and wealth of their communities as they continue to work towards building a brighter, cleaner, and greener future.
To learn more about Gage and its investment opportunities, you can sign up for the Benzinga Cannabis Capital Conference by clicking here.
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