BZAM LTD. COMPLETES FINAL PHASE OF POST-MERGER SYNERGY PLAN; PROVIDES POSITIVE OUTLOOK
VANCOUVER, BC, and TORONTO – BZAM Ltd. (the “Company” or “BZAM”) (CSE: BZAM) (US-OTC: BZAMF), a leading Canadian cannabis producer, is pleased to announce that it has implemented the final phase of its plan to unlock company-wide synergies following the merger of BZAM Holdings Inc. and The Green Organic Dutchman Holdings Ltd (the “Merger”). The plan has focused on: (i) eliminating redundant facilities, (ii) realigning the Company’s production activities across remaining sites to maximize efficiencies, and (iii) reducing selling, general and administrative (“SG&A”) expenses to achieve its goal of positive EBITDA. In particular, the implementation of this last phase results in focusing the scope of activities at its Pitt Meadows, BC facility and concentrating other activities at its Ancaster, ON facility, which together allow the Company to reduce headcount by more than 90 additional personnel. Highlights: Company anticipates Q3 net revenue of at least $20.3M (1...