CEO Fabian Monaco; Terrascend Acquisition of Gage is the Gateway Into Lucrative Pennsylvania Market

Last week brought news of a huge deal: New York- and Toronto-based TerrAscend (CSE: TER) (OTCQX: TRSSF) announced a deal to purchase Michigan-based Gage Growth (CSE: GAGE) in an all-stock transaction valued at $545 million. The news accompanied a bevy of other deal announcements in the United States cannabis industry that signals the long-predicted industry consolidation is already here despite federal legalization still being a ways off.

The Dales Report sat down with Monaco to discuss the deal, as well as take the temperature of the U.S. cannabis market and make some predictions for the future.

Here’s some highlights from the interview:
- TerrAscend believes that Michigan is the third-largest cannabis market in the United States — sales in the state reached $171M in July, representing an annual market of about $2.1B
- Monaco, and by extension, Gage, is also bullish on New Jersey, which along with Maryland and the aforementioned Pennsylvania are his top three target markets in the U.S. right now.
- He indicates there will be a “phenomenal ramp up coming in New Jersey,” which just went adult-use legal and expects that market will come online in February 2022.
- As for the landscape of cannabis capital markets, which have seen some rough markets as of late, especially during Summer 2021, Monaco is bullish, overall.
- The deal can be taken as a sign that things are indeed ramping up in U.S. cannabis, despite how things are playing out in capital markets.

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