BZAM Ltd., a leading Canadian producer of premium cannabis, is pleased to announce that it has completed the sale (the “Transaction”) of the majority of its assets in both its Midway properties in B.C, including all associated lands, support buildings, related equipment and on-site biomass, as applicable. In accordance with two purchase and sale agreements between the Company and arms-length parties dated August 1 and 4, 2023, total gross proceeds received from the Transaction were $3,228,000 with 50% of the total net proceeds from the Transaction, after commission and costs, being applied against the Company’s term portion of its credit facility.
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 common shares and certain warrants issued under the indentures dated June 12, 2020, October 23, 2020 and December 10, 2020 currently trade on the Canadian Securities Exchange (the “CSE“) under the symbol “BZAM”, “BZAM.WR”, “BZAM.WA”, and “BZAM.WB” respectively. For more information on BZAM Ltd., please visit www.bzam.com.
