BZAM Ltd. , a leading Canadian cannabis producer, announced that further to its September 19, 2023 news release, the Company has now completed the sale of its Maple Ridge, BC facility (the “Transaction“). Per the sale agreement between the Company and an arms-length party, total gross proceeds received from the Transaction were $3,800,000. In keeping with Company’s plan to reduce debt, fifty percent of the total net proceeds from the Transaction, after commission and costs, amounting to $1,845,842, has been applied to the term portion of Company’s credit facility. The remaining proceeds will be held in cash.
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 a retail store in Regina, Saskatchewan. For more information on BZAM Ltd., please visit www.bzam.com.
