BZAM Enters Into Second Amended and Restated Credit Agreement

Published: January 12, 2024

BZAM Enters Into Second Amended and Restated Credit Agreement

BZAM Ltd. announced that, following the completion of the acquisition of all of the issued and outstanding shares of Final Bell Canada Inc. (“FBC”) from Final Bell Holdings International Ltd. (“FBHI”) (the “Transaction”), BZAM, through its wholly owned subsidiary The Green Organic Dutchman Ltd, has entered into a Second Amended and Restated Credit Agreement (the “SARCA”) with its Canadian lender to incorporate the assets of FBC into the security collateral and, amongst other things: (i) amend the EBITDA financial covenant to take effect on a rolling three month average basis; (ii) repay $1 million on the fixed portion of the facility from the proceeds of sale of the Edmonton property, such repayment amount then becoming available under the revolving portion of the facility and (iii) allow for the unsecured promissory note issued to Final Bell Holdings Inc., the prior affiliate of FBC. All other terms of its amended and restated credit agreement dated September 29, 2021 (as amended) not specifically amended will remain materially the same as before.

About BZAM Ltd.
BZAM Ltd. is a leading Canadian cannabis producer. The BZAM family includes core brands BZAM™, TGOD™, ness™, Highly Dutch Organic™, TABLE TOP™, and partner brands Jeeter, Cookies, Sherbinskis, Dunn Cannabis, FRESH and Wyld. BZAM operates facilities in BC, Ontario and Quebec, as well as a retail store in Regina, Saskatchewan.