Benzinga | Aug 25, 2021 09:15AM EDT

Gage Extends Exclusive Licensing Agreement With COOKIES In Michigan For Another Two Years

Gage Growth Corp. (CSE:GAGE) (OTCPK: GAEGF) announced Wednesday that they have entered into an amended and new licensing agreement with the popular cannabis brand Cookies, extending their partnership from 2024 to 2026.

In addition to extending their exclusive 5-year partnership for another two years, Gage will

introduce "Cookies Corners," a store-within-a-store concept. The deal provides Gage and Cookies with full coverage of the Michigan market, with a target goal of opening 12 Cookies branded retail dispensaries and Cookies Corners in all Gage stores by the end of 2024.

The Company expects that this extension will establish Michigan as the strongest Cookies market outside of California.

"We are excited to continue this journey with the Cookies family as we extend our exclusive licensing agreement," Fabian Monaco, CEO of Gage stated. "We look forward to continue working with the entire Cookies team to produce and supply the best cannabis products in Michigan, now, and for years to come."

This announcement solidifies the partnership held between Gage and Cookies in Michigan. The Company will continue to evaluate further partnership opportunities with Cookies in other markets in the United States.

"After performing at the Michigan cannabis cup a few years ago, I got a chance to really understand how important the Michigan market was to the industry and shortly after, chose Michigan as the first state to open a Cookies store outside of California," said Berner, co-founder and CEO of Cookies. "Since then, we have developed an amazing relationship with Gage and they fully understand and respect the vision, brand, and standards when it comes to quality."

Cookies Also Reaches Canada

At the end of July, Gage announced the launch of Cookies in Canada for the first time. First, Cookies treats will hit the shelves of stores in Ontario via the Ontario Cannabis Store. The company confirmed it has plans to introduce the brand to consumers in other provinces.

At the time, the company announced it would team up with Noya Cannabis Inc., a hydroponics production company, to introduce its hand-picked strains from rapper and entrepreneur Berner and his cultivation partner Jigga. In addition to iconic COOKIES strains, the partnership will also bring other COOKIES brands such as Lemonnade, Minntz, Runtz, Grandiflora, Powerzzzup, Run The Jewels and Collins Ave. to Canadian consumers. The company plans to open a Cookies retail store by the end of the year.

Price Action

Gage's shares closed Tuesday market session 2.11% higher at $1.94 per share.

Photo: Courtesy of Gage Growth