Gage Shareholders Approve Purchase by Canada’s TerrAscend

The shareholders of Detroit-based cannabis operator Gage Growth Corp. have approved the company’s acquisition by TerrAscend Corp. of Toronto, which buy all the issued and outstanding subordinate voting shares of Gage. The value of the deal was not disclosed.
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Shareholders of cannabis operator Gage Growth Corp. have approved the company’s acquisition by TerrAscend Corp. of Toronto. // Courtesy of Gage
Shareholders of cannabis operator Gage Growth Corp. have approved the company’s acquisition by TerrAscend Corp. of Toronto. // Courtesy of Gage

The shareholders of Detroit-based cannabis operator Gage Growth Corp. have approved the company’s acquisition by TerrAscend Corp. of Toronto, which buy all the issued and outstanding subordinate voting shares of Gage. The value of the deal was not disclosed.

Shareholders representing more than 56 percent of the Gage shares approved the measure by 99.57 percent of the votes cast.

“We are pleased that Gage shareholders have expressed their support not only for this transaction but also for the company’s vision to strategically expand its brand footprint in a variety of new markets,” says Fabian Monaco, CEO of Gage.

“Our team looks forward to joining forces with TerrAscend to create higher industry standards in cultivation, processing, branding, and consumer experiences, as mainstream demand accelerates throughout the country.”

The arrangement remains subject to customary closing conditions, including the approval of the Ontario Superior Court of Justice in Toronto and the receipt of certain cannabis regulatory approvals in the state of Michigan.

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