Gage Growth Borrows $ 55 Million to Fund Michigan Expansion – New Cannabis Businesses


Gage Growth Corp. Announces $ 55 Million Senior Secured Debt Financing

Provides maximum flexibility to execute Gage’s growth strategy, including near-term retail acquisition opportunities

DETROIT and TORONTO, Nov. 22, 2021 / PRNewswire / – Gage Growth Corp. (“Gage” or the “Company”) (CSE: GAGE) (OTCQX: GAEGF), a leading high quality premium cannabis brand and operator in Michigan, today announced that it has a senior secured term loan (the “Term Loan”) for total gross proceeds of $ 55 million (the “Offering”). Gage intends to use the proceeds (i) to fund the company’s retail acquisition strategy in Michigan, (ii) to support the company’s future growth, and (iii) for general working capital purposes. All retail acquisitions for Gage and TerrAscend Corp. are expected to be completed. (“TerrAscend”) represent added value after and subject to the completion of the planned acquisition of Gage.

This non-dilutive financing gives Gage maximum flexibility in implementing short-term acquisition opportunities. We met with great interest and through our advisors we had a healthy stake in this transaction through a high quality mix of institutional investors led by Chicago Atlantic Advisors, LLC (“Chicago Atlantic”).

Fabian Monaco, CEO of Gage

Together with TerrAscend, we are committed to building one of the most dominant cannabis companies in Michigan. With the completion of this debt financing, we are well positioned to implement swiftly and add value to our shareholders.

Chicago Atlantic Partner John Mazarakis added, “Gage has built an exceptional organization focused on high quality products, culture and community, and focused on a growing network of retail and cultivation facilities. The term loan terms reflect the remarkable track record and dedication of the Gage management team and its employees to serving the communities. ”

The term loan has an annual interest rate of 7.00% plus base rate and 10.25%, payable monthly in arrears, with a term until November 30, 2022, with interest on company assets.

The placement was sponsored by Canaccord Genuity Corp. and Chicago Atlantic as lead lender and administrative agent.

About Gage Growth Corp.

Gage Growth Corp. develops and curates the highest quality cannabis users in the state of Michigan and Canada, and brings internationally renowned brands to market. Through years of progressive industry experience, the company’s founding partners have successfully built and expanded 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, three processing licenses and 15 supply centers (pharmacies).

For more information about Gage Growth Corp. can be found at or

Instagram: @gagemichigan
Facebook: @gageusa
Twitter: @gagecannabisco

About Chicago Atlantic and Green Ivy Capital LLC

Chicago Atlantic Advisers, LLC is an asset management company specializing in direct lending and opportunistic private credit investments. Founded in 2018 by Tony Cappell, John Mazarakis and Andreas Bodmeier, the company tries to benefit from North American investment opportunities that are time-sensitive, complex or in disordered markets in which risks are generally mispriced. Through its subsidiary Green Ivy Capital, LLC, the company manages a diversified portfolio of credit investments in the cannabis space and actively invests across the value chain.

Beware of Cannabis Surgery in the United States

Investors should note that the cannabis industry in the United States is subject to significant legal restrictions and regulations. Although cannabis is legal in some states, it remains a List I drug under the United States Controlled Substances Act, which makes it illegal to grow, distribute, or possess cannabis under federal law in the United States, among other things. Financial transactions involving proceeds generated or intended to promote cannabis-related business activities in the United States may form the basis for law enforcement under applicable US federal money laundering laws.

Explanations of the company’s business activities

References in this press release to the company and its activities and portfolio include the activities and assets of certain licensed cannabis operators who operate under the Gage branded under contractual arrangements with the company. For more information, please refer to the company’s full prospectus dated March 26, 2021 and other disclosure documents available on the company’s profile at

Original press release

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Published by NCV Newswire

NCV Newswire

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