Canadian Home Of Cookies, Sherbinskis And Wyld Cannabis Brands Acquired As BZAM Consolidates Market Presence

BZAM Ltd. BZAM BZAMF has completed its previously announced acquisition of all of the issued and outstanding shares of Final Bell Canada Inc. from Final Bell Holdings International Ltd.

What Happened

Under the deal, FBHI, the sole shareholder of FBC, obtained 90 million BZAM common shares at $0.15 per share, representing approximately one-third of the issued and outstanding shares of BZAM following the closing of the transaction.

As part of the deal, Greg Boone joined BZAM as president, Jennifer Maccarone joined as vice president of operations and Christy Zhou assumed the role of chief legal officer at the Vancouver-based company.

FBHI appointed a nominee, Kay Jessel, to the board of directors of BZAM, joining existing BZAM board members Bassam Alghanim, who will continue to serve as board chair, Chris Schnarr, Sherry Tross, Keith Merker, Wendy Kaufman and Sean Bovingdon.

Why It Matters

The transaction combines BZAM’s cultivation, production and sales infrastructure with the portfolio of international brands that Final Bell is bringing to market in Canada.

The combined company will be the Canadian home of some of the most recognizable international brands in the cannabis industry – including Berner's Cookies, Sherbinskis and Wyld.

“It has been our vision to be Canada’s favorite source for cannabis," Matt Milich, BZAM’s CEO said. "Bringing FBC under the BZAM umbrella takes us forward in realizing this vision as we combine our broad flower and 2.0 product portfolio with some of the biggest international brands and products in the cannabis universe including Jeeter, Cookies, Sherbinskis, and our existing Canadian JV partner Wyld."

Consolidation And Cost Reduction Measures Result In Improved Financials

Over the past year, the company has taken consolidation and cost reduction measures, which in addition to expanding its brand and product portfolio following the merger with The Green Organic Dutchman Holdings Ltd. completed in 2022 resulted in a 112% year-over-year increase in net revenue to CA$21 million ($15,4 million) in the third quarter of 2023.p

See also: Canadian Cannabis Producer’s CA$2M Private Offering Led By Chairman & Largest Shareholder

As part of the final phase of its plan to unlock company-wide synergies following the merger, BZAM laid off over 90 employees at two of its facilities in British Columbia and Ontario in Sept. 2023.

BZAMF Price Action

BZAM's shares traded 1.7822% higher at $0.1028 per share at the time of writing on Monday.

Related News

• BZAM Q2 Revenue Grows 66% YoY, What About Profit?
• BZAM To Increase Ownership Of BZAM Cannabis To 84.8%
• BZAM To Purchase Additional Shares Of BZAM Cannabis
• BZAM Sells Galaxie And Amends Credit Agreement

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