BZAM Archives - Green Market Report

Debra BorchardtJanuary 26, 2023
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3min2010

The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (US-OTC: TGODF) is changing its name from “The Green Organic Dutchman Holdings Ltd.” to “BZAM Ltd.” In addition to changing the company name, the ticker symbol will also switch from TGOD and TGODF to “BZAM” on the CSE and “BZAMF” on the OTCQX. TGOD acquired the shares of BZAM in November 2022 resulting in one large shareholder owning 49.5% of the company.

“This Name Change marks a new era,” said Matt Milich, Chief Executive Officer of the company. “It reflects our larger portfolio of brands and facilities, and our ability to reach a broader consumer base to realize our vision of being one of Canada’s favorite sources for cannabis.”

The company’s new corporate website, www.BZAM.com, will launch following the completion of the name change. BZAM Cannabis is a multi-licensed Canadian cannabis producer focused on branded consumer goods, cultivation, processing, and people. The BZAM Cannabis family includes core recreational cannabis brands BZAM, -ness, and TABLE TOP, and partner brands Dunn Cannabis, FRESH, SuperFlower, and Snackbar.

Earlier this week, The Green Organic Dutchman released 1,142,857 common shares held in an indemnity escrow account upon the closing of the acquisition of Galaxie Shares, to two vendors of the Galaxie Shares. The remaining 7,428,571 common shares held in the indemnity escrow account will be returned to the treasury and canceled. In addition, an aggregate of 1,120,226 common shares of the “BZAM Shares” will be issued to the company’s largest shareholder, at a deemed issuance price of $0.596 per BZAM Shares.

The company also announced that Mr. Bassam Alghanim has been appointed Chairman of the Board, effective as of January 24, 2023. Alghanim was recently named to the board to fill the vacancy left by the resignation of Mr. Tony Moschella. Alghanim managed and expanded Alghanim Industries, a multi-national conglomerate. Later, Mr. Alghanim spearheaded the acquisition of a controlling stake in Gulf Bank, becoming Chairman in 1999. After leading Gulf Bank for over nearly 10 years, during which it experienced profound growth, Mr. Alghanim moved on to hold diplomatic posts.


Debra BorchardtOctober 19, 2022
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4min70690

The Green Organic Dutchman (OTC: TGODF) shares popped on the news that it bought privately owned Canadian-based BZAM Holdings (BZAM) in an all-stock deal. BZAM shareholders will end up holding roughly 49.5% of the combined company. The deal is expected to close on Nov. 8, 2022.  Shares jumped by 30% to sell at roughly six and half cents.

The combined company is estimated to be the sixth-largest Canadian cannabis company based on June to August 2022 retail sales. Together, the combined company forecasts net revenue of at least $100 million for the calendar year 2023 and adjusted EBITDA positive by mid-2023.

TGOD and BZAM generated $30.2 million and $32.2 million, respectively, of net revenue in calendar 2021, and $31.6 million and $32.7 million, respectively, of net revenue from January to September 2022. The combined company generated $85.7 million pro forma unaudited net revenue for the 12 months leading to September 2022. BZAM and TGOD said in a statement that they have experienced one of the fastest growth rates in the Canadian cannabis market.

BZAM’s current Chief Executive Officer Matt Milich, and Chief Commercial Officer Jordan Winnett, will lead the company, along with TGOD’s current CEO and Interim Chief Financial Officer, Sean Bovingdon, who will take the role of CFO. The board of directors will consist of seven members including five members from TGOD’s existing board of directors, and two members nominated by BZAM.

“This is an exciting day for both companies, for our employees, and for our consumers. We are bringing together two rapidly growing companies that share a passion for cultivation, innovation, and brand development,” said Bovingdon. “Our highly complementary businesses in terms of production footprints, products and distribution networks create a Combined Entity with a leading branded product portfolio along with significant synergies across our operations.”

BZAM Cannabis is a multi-licensed Canadian cannabis producer focused on branded consumer goods, cultivation, processing, and people. The BZAM Cannabis family includes core recreational cannabis brands BZAM, -ness and TABLE TOP, and partner brands Dunn Cannabis, FRESH, SuperFlower, and Snackbar. The company operates facilities in the Lower Mainland, West Kootenay, and Vancouver Island in British Columbia. Its sister companies operate facilities in Edmonton, Alberta, as well as a retail BZAM store in Winnipeg, Manitoba and Regina, Saskatchewan.

The merged companies will have local production presence in the largest provinces, and over 400 listed SKUs across Canada. The combined company’s facilities are right-sized to demand without the need for material capital expenditure. The facilities offer complete, scalable capabilities for the Combined Entity’s broad range of cannabis products.

“We are looking forward to bringing together TGOD’s organic flower and hash with our crowd pleasing vapes and the exceptional flower of our craft partners, including Dunn Cannabis and FRESH,” added Milich. “Together, we expect to expand on what we have each accomplished so far, as we build a strong, EBITDA-positive cannabis company.”


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