DETROIT, July 26, 2021 /PRNewswire/ - Gage Growth Corp. ("Gage" or the "Company") (CSE: GAGE), a leading high-quality cannabis brand and operator, today announced that it will bring the iconic cannabis brand COOKIES to Canada. COOKIES is one of the best-known cannabis brands in the world and has one of the largest retail footprints in the industry. The partnership will bring the brand to Canadian consumers for the first time.
COOKIES products are expected to be available exclusively in Ontario via the Ontario Cannabis Store (OCS), the largest purchaser of cannabis in the world, by the end of 2021, before moving to wider distribution across other provinces. Gage will work with NOYA Cannabis Inc., a premium hydroponics production company awarded its grow and sales license from Health Canada in 2018, to bring to market hand-selected strains from rapper and entrepreneur Berner and his renowned cultivation partner Jigga. Such hand-selected strains include Gary Payton, Georgia Pie, Medellin, Lions Mane, Soap, Cheetah Piss, Blanco and more. In addition to iconic COOKIES strains, the partnership will also bring other COOKIES brands such as Lemonnade, Minntz, Runtz, Grandiflora, Powerzzzup, Run The Jewels and Collins Ave. to Canadian consumers. A COOKIES retail store is also planned to open in Canada by the end of 2021.
"For the past decade, I've put taste and experience first," said COOKIES founder Berner. "I'm thrilled to work with Gage, a company that is just as passionate about our brand as we are, to provide Canadian consumers with some of the best flower and cannabis products available in the world. It feels good to be in a position to diversify the current flavor profile on the Canadian market, with a planned flagship store in Toronto, I think the Canadian connoisseur will be proud to have COOKIES. NOYA already has our standards dialed in as far as cultivation goes, so this should make a smooth and powerful introduction to the COOKIES brand in Canada."
According to the Brightfield Group, legal cannabis sales in Canada grew 118% last year and are expected to grow another 60% this year. More importantly, sales in the legal market eclipsed that of the illicit market for the first time in Q1 2021.
"Working with Berner and his team to bring COOKIES to the Canadian market is validation of the painstaking processes we've developed at Gage," said Fabian Monaco, CEO of Gage. "The growth of the Canadian market creates more diverse and demanding consumers, and we're excited to bring one of the best-known cannabis brands in the world to customers across Canada."
Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and in Canada, 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 15 provisioning centers (dispensaries).
COOKIES, founded in 2008 by Berner (the prolific Bay Area rapper and entrepreneur) and his partner Jai (a Bay Area breeder and cultivator) is more than a premiere cannabis company; it is an authentic lifestyle brand with passionate fans all over the world. The company went mainstream in 2011 and has grown its business through the combination of globally recognized premium genetics, popular culture resonance, and social media influence. COOKIES is constantly engaged in new breeding projects to launch differentiated brands and has quickly built a grassroots cult following while remaining loyal to its brand promise: authenticity and genetics innovation.
Today, COOKIES is one of the most well-respected and top-selling cannabis brands in California and throughout the world. The company and its product are recognized globally and offer a collection of over 150 proprietary cannabis varieties and product lines including indoor and sungrown flower, pre-rolls, gel caps, vape carts, CBD Flower and medicinal mushrooms. COOKIES' seed-to-sale business allows for complete quality control at every step—from cultivation and production to customers' end retail experience. With a deep commitment to restorative justice and progressive drug policy, COOKIES actively works to enrich communities disproportionately impacted by the War on Drugs through advocacy work and social equity initiatives.
Founded in Hamilton, Ontario in 2014, NOYA Cannabis Inc. is a licensed producer under the Cannabis Act. The company received its cultivation license in 2017, and its sales license in 2018. The company has positioned itself as a premium white label producer and is working with the biggest and best cannabis brands in the world. The company's mission is to distribute and cultivate premium craft cannabis to match the needs of the market.
For more information on NOYA Cannabis Inc. visit www.noyagrow.ca.
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.
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 sales of COOKIES products in Canada and timing thereof, expected COOKIES store openings in Canada and expectations regarding the growth of the Canadian cannabis market. 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.
SOURCE Gage Cannabis Co.