BZAM To Increase Ownership Of BZAM Cannabis To 84.8%

BZAM Ltd. BZAMF BZAM announced that the company, through its wholly-owned subsidiary, has agreed to purchase an additional 120,000 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, 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 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.

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