On December 16, 2020, Gage Cannabis Co. announced that it secured a minimum investment of US$20 million from funds advised by JW Asset Management, LLC as part of Gage’s Regulation A, Tier 2, equity financing. The first tranche of approximately US$10 million has been received by the company. As additional consideration for participation in the offering at US$1.75 per subordinate voting share, Gage agreed to issue an equivalent number of warrants to purchase subordinate voting shares with an exercise price of US$2.60.
Cassels represented JW Asset Management with a deal team that included Jonathan Sherman, Tayyaba Khan and Thea Gaertner (Securities and Cannabis).