DETROIT, April 8, 2021 /PRNewswire/ -- Gage Growth Corp. ("Gage" or the "Company") (CSE:GAGE), a leading high-quality craft cannabis brand and operator in Michigan, announced today that it has signed an agreement with Blue River™ Extracts & Terpenes ("Blue River™") to bring the brand's award-winning solventless technology and other trademark branded products to the state's medical patients and cannabis consumers. The Company will have exclusive rights to Blue River™'s premium product offerings in Michigan.
Pursuant to the partnership and pending regulatory approval, Gage has been granted a license to produce and distribute Blue River™ branded products. Blue River™ products sold in Michigan will be manufactured with Gage's premium flower.
Subject to the receipt of applicable regulatory approvals, Blue River™'s brands are expected to be available in Michigan at provisioning centers across the state, including seven locations operated by Gage. Adult-use customers can visit five Gage locations including Adrian, Ferndale, Kalamazoo (Cookies), Lansing and Grand Rapids, to purchase their favorite Gage, Cookies and Blue River™ branded products.
Blue River™ utilizes a solventless technology platform with advanced mechanical separation techniques that deliver cannabis derived terpene-rich authentic farm-to-table experiences. Blue River™'s founder, Tony Verzura, has been at the forefront of solventless innovation and patent driven product development since 2014. Blue River™ branded products include strain specific Dry Sift Hash Rosin, Cold Cure Live Rosin, Live Rosin Cartridges, Snow ("THCa"), Capsules, Drops, Topical, Edible, CBD, CBN, and their signature exclusive solventless extracts Jelly™ and Flan™. Blue River™'s proprietary extraction technology, in addition to its 57 industry awards, has helped to propel mainstream adoption of full-spectrum solventless products.
"Gage recognizes that partnering with industry-leading brands like Blue River™ will elevate the Michigan cannabis market and provide consumers with a range of products that are of exceptional quality," said Gage CEO Fabian Monaco.
The addition of the Blue River™ brands will strengthen Gage's offering in the vape and concentrate product categories. Production of the additional products will utilize Gage's increasing cultivation and processing capacity in the state of Michigan.
"Michigan is one of the fastest growing cannabis markets in the country, and this exclusive partnership marks our first expansion into the Midwest," said Tony Verzura, CEO of Blue River™. "Gage shares our same passion for bringing the highest quality cannabis experiences to both patients and consumers. We look forward to providing our technology, best manufacturing practices, and award-winning offerings to the great State of Michigan."
Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm's founding partners have successfully built and grown 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 12 provisioning centers (dispensaries).
Blue River™ believes in a farm-to-table model of cannabis extractions and enhanced terpene-rich products. The company's proprietary extraction techniques separate terpenes and cannabinoids without damaging the integrity of the compounds, resulting in the cleanest, highest testing, and finest solvent-less products available in today's market. Dedicated to providing quality, excellence, and standardization, Blue River™ has set the standard for innovation and excellence in terpene technology. The company has effectively lead the way for cutting-edge solventless product formulations, sustainable manufacturing, and cannabis innovation on a global scale. Blue River™ has won over 57 cannabis awards and is available in over 150 locations nationwide.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation. Investors should carefully read the risk factors and disclosures contained in the offering circular prepared in connection with the Offering before making any decision to invest in the Company.
Explanatory Note Regarding the Company's Operations
References in this news release to the Company and its operations and portfolio are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company. For additional information, please refer to the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com.
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to future revenue and profits. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information including, but not limited to, those risks disclosed in the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.