Craft cannabis brand Gage Cannabis Co. is poised to raise up to $50 million through a share offering.
The Detroit-based company is offering more than 28.5 million shares of subordinate voting shares at $1.75 per share.
Gage hired broker-dealer The Dalmore Group to advise the process.
Gage executive chair Bruce Linton said Wednesday that the company opted to “provide investors with the opportunity to invest in a growing and dominant cannabis operation before an official IPO process.”
Linton is the former CEO and co-founder of Canopy Growth Corp (NYSE:CGC).
Gage is the exclusive cultivator and retailer for several brands such as Runtz, Grandiflora, SLANG Worldwide, OG Raskal, Cookies, and Lemonnade. In addition, it also commercializes its proprietary brand portfolio in Michigan.