BZAM Ltd., a leading Canadian cannabis producer, is pleased to announce that the Company has agreed to purchased an aggregate of 630,000 class A shares (the “Purchased Shares“) in the capital of BZAM Cannabis Corp. (“BCC“), from certain minority shareholders of BCC (the “BCC Shareholders“) pursuant to share purchase agreements entered into with each of the BCC Shareholders (the “Share Purchase“). As consideration for the Share Purchase, the Company will issue an aggregate of 255,000 common shares of the Company (the “Common Shares“) to the BCC Shareholders, at an average deemed issuance price of $0.225 per Common Share.
Such Common Shares will be issued in reliance on certain prospectus exemptions available under securities legislation and will be subject to a four-month plus one day statutory hold period. The issuance of such Common Shares for the purpose of the Share Purchase remains subject to all necessary regulatory approvals including final acceptance by the Canadian Securities Exchange (the “CSE“). Once approved, the closing of the Share Purchase will result in the Company owning 71.2% of BCC, which is a 13.6% increase of the Company’s existing ownership stake of BCC.
About BZAM Ltd.
BZAM Ltd. is a leading Canadian cannabis producer with a focus on branded consumer goods, innovation, quality, consistency, integrity and transparency. The BZAM family includes core brands BZAM™, TGOD™, ness™, Highly Dutch Organic™, TABLE TOP™, and partner brands Dunn Cannabis, FRESH and Wyld. BZAM operates facilities in BC, Alberta, Ontario and Quebec, as well as retail stores in Winnipeg, Manitoba, and Regina, Saskatchewan. BZAM’s Shares and certain warrants issued under the indentures dated June 12, 2020, October 23, 2020 and December 10, 2020 currently trade on the CSE under the symbol “BZAM”, “BZAM.WR”, “BZAM.WA”, and “BZAM.WB” respectively. BZAM’s Shares trade in the U.S. on the OTCQX under the symbol “BZAMF”. For more information on BZAM Ltd., please visit www.bzam.com.
