By Shariq Khan
By Shariq Khan
March 24 (Reuters) – U.S.-based Gage Hashish Co, led by veteran marijuana trade govt Bruce Linton, is pursuing a direct itemizing on the Canadian Securities Alternate, sources conversant in the matter informed Reuters.
Gage is trying to faucet into hovering investor demand for U.S. marijuana producers because the trade awaits the decision on a landmark invoice that can enable institutional investments and produce the hashish sector on par with the way in which the alcohol and tobacco industries function.
Lawmakers in New York have additionally stated in latest days that the state is “actually shut” to legalizing leisure marijuana.
Gage, which at the moment focuses on the Michigan market and operates rapper Berner’s Cookies model within the state, was valued at $350 million previous to its newest fundraise within the fall of 2020, sources informed Reuters.
It has tapped a couple of funding banks to conduct investor advertising forward of the itemizing and its shares will begin buying and selling below the ticker ‘GAGE’ across the first week of April, the sources stated.
Linton joined Gage as govt chairman in 2019, months after being ousted from the board of Cover Development Corp WEED.TO – a enterprise he based in 2013, took public the following yr and remodeled it into probably the most valued hashish firm by a string of offers. (https://reut.rs/30rhknz)
(Reporting by Shariq Khan in Bengaluru; Modifying by Saumyadeb Chakrabarty)
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