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Gage Growth Corp. included in leading U.S. cannabis ETF

Gage Growth Corp. included in leading U.S. cannabis ETF
Justinas
Baltrusaitis
2 months ago
2 mins read

Cannabis company Gage Growth Corp. (CSE: GAGE) has announced its inclusion in one of the leading U.S. cannabis exchange-traded funds (ETFs) AdvisorShares Pure US Cannabis ETF. 

In a press statement, CEO Fabian Monaco said the inclusion would expose the company to more investors as it seeks to extend its growth. 

“Inclusion in a leading ETF brings strong exposure to potential new investors and we are pleased the AdvisorShares ETF has initiated a position in our Company. This represents a strong milestone for the Company and provides us added exposure to the investment community,” said Monaco.

Elsewhere, AdvisorShares has over $1 billion in assets under management with a sole focus on the United States companies.

Gage growth cuts down on losses

Gage Growth, operating in Michigan, recently announced it had generated $39.9 million in revenue for the 2020 fiscal year. The revenue represents a staggering 1,972% year-over-year growth. The firm also ended the year with over $45 million in cash.

Furthermore, Gage Growth recorded a net loss of $29.8 million for the 2020 full year an improvement. In 2019, the net loss stood at $75 million.

Moving forward, Gage Growth is seeking to expand its services by opening five more cultivation facilities this year from the current eight with plans to extend its retail footprint by opening at least 20 more locations in 2021.

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Justinas Baltrusaitis
Author

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.