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DETROIT, Jan. 28, 2021 /PRNewswire/ -- Gage Growth Corp. ("Gage" or the "Company"), the leading high-quality craft cannabis brand in Michigan, has announced the final closing of its Regulation A, Tier 2, equity financing (the "Offering"). In total, Gage issued 28,571,400 Subordinate Voting Shares for gross proceeds of US$50,000,000, the maximum amount qualified under the Company's offering circular (seeGage Cannabis Co. Offering Circular). The oversubscribed Offering included demand from both institutional and retail investors and significantly expanded the Company's ownership base through the addition of over 1,000 new shareholders. The Company expects to use the proceeds from the Offering to expand its retail footprint, pursue accretive acquisitions, and help position and solidify Gage as the leading cannabis brand in the state of Michigan. "We are humbled and excited by the significant interest and investor demand we received for our oversubscribed Reg A financing," said Fabian Monaco, President of Gage. "Michigan is one of the fastest growing cannabis markets in the United States, and Gage is well positioned with a robust balance sheet to continue to grow our market share as the leading operator with the best brands in the state. This is a great first step in our journey to becoming a publicly-traded company, and we're excited to continue to drive long-term shareholder value." As previously announced, the Company continues to pursue a potential go-public transaction which it expects to complete in Q1 2021. Please do not hesitate to contact our Investor Relations team for further information or to be added to our shareholder distribution list at [emailprotected]. Board Appointment The Company is pleased to welcome Richard Mavrinac to the Company's Board of Directors. Richard Mavrinac previously served as Chief Financial Officer of George Weston Limited and Executive Vice President of Loblaw Companies Limited, two of Canada's largest companies operating in the retail grocery and bakery sectors. Mr. Mavrinac's experience has encompassed all aspects of finance including overall responsibility for financial reporting, treasury, risk management, pension and benefits, investor relations, taxation, and mergers and acquisitions. Mr. Mavrinac is currently a member of the Board of Directors of TerrAscend Corp., Roots Corporation and Canopy Rivers Inc., and brings significant experience in the retail and cannabis sectors to the Board of Directors. About Gage Growth Corp. 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 "Class C" cultivation licenses, processing licenses and provisioning centers (dispensaries). To learn more, please visitwww.GageUSA.com. 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. 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 and a potential go-public transaction. 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, the impact of the COVID-19 pandemic 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. Additional information regarding risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" and elsewhere in the Company's offering circular effective September 14, 2020. 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.

Answer: Gage Cannabis Announces Final Closing of Oversubscribed Regulation A+ Equity Financing Raises Maximum Gross Proceeds of US$50 million