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Record Q2 2021 revenue of $26.4 million, an increase of 130.2% YoY and 49.9% quarter over quarter Ended the quarter with over $32.8 million of cash Gross margins of 34.2% compared to 26.1% in Q1 2021, sequential quarter growth of 810 basis points July average selling price of approximately $5,100/lb vs. Michigan average of $3,500/lb – 46% premium The state of Michigan posted $171 million of cannabis sales in July, which equates to approximately $2.05 billion when annualized, positioning Michigan as the third largest cannabis market in the United States based on this run-rate Nine cultivation facilities in operation today (three Gage operated and six contracted cultivation assets) compared to two cultivation facilities in Q2 2020; the Company expects to expand to 15 cultivation facilities by year end Strong average basket size of $152 in the second quarter of 2021 The Company expects to operate in-house processing asset in the fourth quarter of 2021 leading to further margin expansion DETROIT, Aug. 24, 2021 /PRNewswire/ – Gage Growth Corp. (“Gage” or the “Company”) (CSE: GAGE), a leading high-quality cannabis premium brand and operator in Michigan, today reported its financial results for the three months ended June 30, 2021.
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