Could Michigan Be the Perfect Entry Point for Cannabis Investors - Seite 2

Now with Pure Extracts' extraction, vape, live resin and edibles manufacturing skills, the JV can provide a much wider offering of products to the state—a necessary move, given the rising popularity of sales in cannabis 2.0 products seen across multiple states, in particular concentrates and edibles.

Nikolaevsky added, "With immediate access to the MSO affiliate's 100+ dispensary customers out of Michigan's nearly 400 licensed dispensaries, we expect our products to be distributed and on-shelves in Q4 of this year."

In addition to manufacturing Pure Extracts' proprietary brands of vapes and edibles, the JV partners anticipate an initial white-label order for live-resin concentrates from the MSO affiliate as that company continues to build on the outstanding reputation its dry-flower products have already garnered within the Michigan marketplace.

Already established in the state is Red White & Bloom Brands Inc. (OTC: RWBYF) (CSE: RWB), which saw its own Platinum Vape brand achieve record sales of about US$6.5 million in Michigan alone during the month of February—a feat that represents nearly 28% of the state's market share according to data from the Michigan Marijuana Regulatory Agency (MRA).

Now the company is set to launch its new High Times product in Michigan, with the aim to accelerate towards a full launch that will include over 50 dispensaries to carry the product. In addition to multiple strains of packaged flower already released, the line will bring pre-rolls, vapes and edibles in a number of varieties.

Long-standing industry publication High Times is also gearing up for the Michigan Cannabis Cup, which has been featured in multiple stories and on air, including through FOX 2 Detroit and Michigan Live.

"Michigan is one of the fastest growing cannabis markets in the US," said Bruce Linton, Executive Chairman of Gage Growth Corp.  in an interview with Forbes. "Gage has worked tirelessly to grow its market share in the state." 

Linton's Gage are coming off of an oversubscribed Reg A+ financing that raised gross proceeds of $50 million—one of the largest private cannabis financings in the past year, and one of the most successful Reg A+ financings in industry history.

"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 Growth.