The cannabis industry in the Great Lakes State has been booming since December 2019, where Prop 1 prevailed with 56% of the vote, making it the 10th state to legalize marijuana for adult use and more than a decade for medicinal purposes. In fact, Michigan is the 3rd-largest cannabis market in the United States.
One in 9 people in the state reported using cannabis and sales reached $985 million in 2020, a staggering 250% increase from 2019. In 2021, the cannabis sales reached $149 million in June 2021, which is $1.8 billion when annualized.
Gage Growth Corp. (CSE: GAGE) (OTCPK: GAEGF), a leading high-quality cannabis brand and operator in Michigan, is setting the standard in the state. The company, which has over 30 different flavors of flower in production, has built and grown operations with state and local licenses, including cultivation, processing and retail locations.