Up and coming Michigan cannabis company Gage Cannabis has announced a partnership with Slang Worldwide Inc. (OTC:SLGWF) to produce and distribute Slang products. While Slang is the better-known company, Gage has been quietly building a solid business in Michigan.
Gage is focused on becoming a leader in the state as the cannabis industry has switched from building huge national footprints to targeting specific states. Adult-use cannabis sales in Michigan began in late 2019 and have been growing steadily since then with 27% month-over-month growth from March to April 2020, based on data from the Michigan Marijuana Regulatory Agency. A recent study by Michigan State University estimates that total cannabis sales in the state could reach $3 billion within the next five years. It is currently the fourth largest market in the country.
Gage has licenses for 13 dispensaries of which four are operational at this time. There are four licenses for cultivation with three operational and one processing license. The average basket size for Gage in March was $130 and that number has jumped to $175 in April.
To read more, click on https://www.greenmarketreport.com/michigan-upstart-gage-cannabis-partners-with-slang/