BZAM Holdings Inc. Acquires Securities of Speakeasy Cannabis Club

Published: March 25, 2019

BZAM Holdings Inc. Acquires Securities of Speakeasy Cannabis Club

BZAM Holdings Inc. acquired 9,700,000 units (the “Units”) of Speakeasy Cannabis Club Ltd. (“Speakeasy”). Each Unit comprised one common share in the capital of Speakeasy and one-half of one common share purchase warrant, with each Warrant exercisable to purchase one additional Common Share at a price of $1.00 per common share for 24 months from the date of closing. Speakeasy issued the Units pursuant to a non-brokered private placement from treasury completed on March 8, 2019.

BZAM acquired ownership of the 9,700,000 Common Shares and 4,850,000 Warrants composing the Units in the March Private Placement at a price of $0.50 per Unit for a total purchase price of $4,850,000.00. As a result, BZAM held a total of 9,700,000 Common Shares, representing approximately 13.25% of the issued and outstanding Common Shares (on a non-diluted basis) and 4,850,000 Warrants, which, when aggregated with the Common Shares, represents “beneficial ownership” (as determined in accordance with National Instrument 62-104 – Take-Over Bids of the Canadian Securities Administrators) of approximately 18.65% of the outstanding Common Shares.

Prior to the completion of the March Private Placement, BZAM did not hold any securities of Speakeasy.