OTC:BZAMF | Jotup

BZAM Announces Stock Option Grants

Retrieved on:

Monday, August 28, 2023

Indian stock exchange, CSE, Option, Pharmaceutical industry

VANCOUVER, BC and TORONTO, Aug. 28, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC: BZAMF), a leading Canadian cannabis producer, announces that the Company has granted options (each, an "Option") to purchase an aggregate of up to 85,000 Common Shares to certain employees of the Company.

Key Points:

VANCOUVER, BC and TORONTO, Aug. 28, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC: BZAMF), a leading Canadian cannabis producer, announces that the Company has granted options (each, an "Option") to purchase an aggregate of up to 85,000 Common Shares to certain employees of the Company.
Each Option is exercisable into one Common Share at an exercise price per Common Share equal to $0.16.
The Options vest as to 1/3 of the total number of Options granted on each of the first, second and third anniversaries of the grant date, and expire five years from the grant date.
The Options are granted in accordance with the Company's share option plan adopted by the board of directors of the Company on May 12, 2021 (the "Option Plan").

BZAM Ltd. Reports Second Quarter 2023 Results

Retrieved on:

Thursday, August 24, 2023

Taken together with an excise tax correction from Q1 2023 being recorded in Q2 2023 normalized Q2 gross and net revenues would be more in line with Q1.

Key Points:

Taken together with an excise tax correction from Q1 2023 being recorded in Q2 2023 normalized Q2 gross and net revenues would be more in line with Q1.
Despite this, overall gross profit percentage was 9.5% in Q2 vs. 12% in Q1 2023 as a result of $1.1M higher fair value adjustments in Q2 2023.
Sales, General and Administrative Expenses ("SG&A"): SG&A increased by 68% in Q2 2023 vs. Q2 2022, commensurate with the Company's overall growth.
Loss from operations: Loss from operations for the quarter was $12.1M compared to $11.7M in Q1 2023.

BZAM Ltd. to Release Second Quarter 2023 Financial Results on August 24, 2023

Retrieved on:

Friday, August 18, 2023

The Company, CSE, OTC, Rare-earth element, Drug

VANCOUVER, BC and TORONTO, Aug. 18, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (OTC: BZAMF), a leading Canadian cannabis producer, will release its Q2 2023 consolidated financial results on Thursday, August 24, 2023, before market open.

Key Points:

VANCOUVER, BC and TORONTO, Aug. 18, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (OTC: BZAMF), a leading Canadian cannabis producer, will release its Q2 2023 consolidated financial results on Thursday, August 24, 2023, before market open.

BZAM LTD. Announces Closing of Previously Announced Purchase of Shares of BZAM Cannabis Corp.

Retrieved on:

Thursday, August 10, 2023

OTC, Indian stock exchange, Prospectus, CSE, Financial assistance (share purchase), BCC, Legislation, Security (finance)

VANCOUVER, BC and TORONTO, Aug. 10, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (OTC: BZAMF), a leading Canadian cannabis producer, announced today that further to its press releases dated July 13, 2023, and July 25, 2023, the Company has closed its previously announced purchase of an aggregate of 270,000 class A 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").

Key Points:

VANCOUVER, BC and TORONTO, Aug. 10, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (OTC: BZAMF), a leading Canadian cannabis producer, announced today that further to its press releases dated July 13, 2023, and July 25, 2023, the Company has closed its previously announced purchase of an aggregate of 270,000 class A 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: (i) issued an aggregate of 475,000 common shares of the Company (the "Common Shares") to certain BCC shareholders at a price of between $0.18 and $0.23 per Common Share; and (ii) paid an aggregate of $14,700 to other BCC shareholders who did not receive Common Shares.
The Common Shares were issued in reliance on certain prospectus exemptions available under securities legislation and are subject to a four-month plus one day statutory hold period.
The closing of the Share Purchase has resulted in the Company owning 88.2% of BCC, which is a 30.5% increase of the Company's existing ownership stake of BCC.

BZAM Completes Sale of its Midway, British Columbia, Facility

Retrieved on:

Wednesday, August 9, 2023

CSE, Biomass, Transaction, Sale, Commercial property, Midway

VANCOUVER, BC, Aug. 9, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC: BZAMF), 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.

Key Points:

VANCOUVER, BC, Aug. 9, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC: BZAMF), 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.

BZAM LTD. to Purchase Additional Shares of BZAM Cannabis Corp.

Retrieved on:

Tuesday, July 25, 2023

Indian stock exchange, CSE, Financial assistance (share purchase), Canadian Securities Exchange, Prospectus, BCC, Legislation, Security (finance)

VANCOUVER, BC, and TORONTO, July 25, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC: BZAMF), a leading Canadian cannabis producer, is pleased to announce that further to its press release dated July 13, 2023, the Company, through its wholly-owned subsidiary, has agreed to purchase (the "Share Purchase") an additional 120,000 shares (the "Purchased Shares") of the 884,700 Class A shares (the "BCC Shares") issued and outstanding in the capital of BZAM Cannabis Corp. ("BCC") from certain minority shareholders (the "BCC Shareholders"), increasing its proposed aggregate ownership from 630,000 BCC Shares (representing owning 71.2% of BCC) as disclosed July 13, 2023, to 750,000 BCC Shares (representing owning 84.8% of BCC).

Key Points:

VANCOUVER, BC, and TORONTO, July 25, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC: BZAMF), a leading Canadian cannabis producer, is pleased to announce that further to its press release dated July 13, 2023, the Company, through its wholly-owned subsidiary, has agreed to purchase (the "Share Purchase") an additional 120,000 shares (the "Purchased Shares") of the 884,700 Class A shares (the "BCC Shares") issued and outstanding in the capital of BZAM Cannabis Corp. ("BCC") from certain minority shareholders (the "BCC Shareholders"), increasing its proposed aggregate ownership from 630,000 BCC Shares (representing owning 71.2% of BCC) as disclosed July 13, 2023, to 750,000 BCC Shares (representing owning 84.8% of BCC).
As consideration for the Purchased Shares, the Company will issue an aggregate of an additional 240,000 common shares of the Company (the "Common Shares") to the BCC Shareholders, at a deemed issuance price of $0.18 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").

BZAM LTD. to Purchase Additional Shares of BZAM Cannabis Corp.

Retrieved on:

Thursday, July 13, 2023

Indian stock exchange, Prospectus, CSE, Legislation, Financial assistance (share purchase), BCC, Canadian Securities Exchange, Security (finance)

VANCOUVER, BC and TORONTO, July 13, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC:BZAMF), 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").

Key Points:

VANCOUVER, BC and TORONTO, July 13, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (US-OTC:BZAMF), 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").

BZAM Ltd. Completes Sale of Galaxie and Announces Amendment of Credit Agreement

Retrieved on:

Tuesday, July 4, 2023

CSE, Bank statement, Credit agreements in South Africa, Sale, Agent, EBITDA, Transaction, Fifth Amendment, The Company, The Green Organic Dutchman, Credit, Creditor, Accounting, Security (finance), Midway, Stingray Music

This is materially consistent with the valuation of Galaxie assets and liabilities that were deemed "Held for Sale" in the Company's most recent interim unaudited financial statements.

Key Points:

This is materially consistent with the valuation of Galaxie assets and liabilities that were deemed "Held for Sale" in the Company's most recent interim unaudited financial statements.
In conjunction with the Transaction, the Company and its Lender agreed to amend the terms of the amended and restated credit agreement dated September 29, 2021, as amended (the "Credit Agreement"), between The Green Organic Dutchman Ltd. (the "Borrower"), a wholly-owned subsidiary of BZAM, and its Canadian lender (the "Lender").
For clarity, this amendment does not result in a reduction of availability on the credit facility; any reduction in the term portion of the facility is added to the availability under the revolving portion of the facility.
All other terms of the Credit Agreement will remain materially consistent.

BZAM Ltd. Announces Closing of Previously Announced Non-Brokered Private Placement

Retrieved on:

Friday, June 9, 2023

Minority, CSE, MI, Person, Related party transaction, Disclosure, Sale, Offering, OTC, SEDAR, The Company, Multilateral, News, Legislation, Security (finance), Unit, Warrant

VANCOUVER, BC and TORONTO, June 9, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (OTC: BZAMF), a leading Canadian cannabis producer, announced today that the Company has closed its previously announced non-brokered private placement (the "Offering") of units of the Company (the "Units").

Key Points:

VANCOUVER, BC and TORONTO, June 9, 2023 /PRNewswire/ - BZAM Ltd. (the "Company" or "BZAM") (CSE: BZAM) (OTC: BZAMF), a leading Canadian cannabis producer, announced today that the Company has closed its previously announced non-brokered private placement (the "Offering") of units of the Company (the "Units").
Pursuant to the Offering, the Company issued 22,222,223 Units at a price of C$0.225 per Unit for aggregate gross proceeds of C$5,000,000.18.
Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one Share purchase warrant (each, a "Warrant").
The net proceeds from the Offering are expected to be used for general corporate and working capital purposes.

BZAM Ltd. Reports First Quarter 2023 Financial Results; Achieves Record Revenues

Retrieved on:

Tuesday, May 30, 2023

SG, TGOD, Constitutional right, Absorption, Sale, Fourth, Certification, EBITDA, Revolving Loan Fund, United Kingdom, Growth, The Green Organic Dutchman, Adjustment, Conference, Disposable household and per capita income, Automation, Video game, Internet service provider

Following their transition to the Company's inhouse sales team, Highly Dutch and TGOD sales increased by 22% and 33% from Q4 2022, respectively.

Key Points:

Following their transition to the Company's inhouse sales team, Highly Dutch and TGOD sales increased by 22% and 33% from Q4 2022, respectively.
SG&A: Achieved an adjusted SG&A (excluding one-time non-recurring costs) of 43% of sales in Q1 2023, down from 59% in Q4 2023.
Following quarter end, on May 11, 2023, the Company announced that its subsidiary, The Green Organic Dutchman Ltd., received EU-GMP certification for its facility in Ancaster, Ontario.
Under the waiver, the effective date of the requirement to achieve positive EBITDA was moved from April 30, 2023 to July 31, 2023.