By Adriano Marchese
BZAM, a cannabis supply chain solutions company, is set to acquire the Canadian operations of Final Bell Holdings International (FBHI). In a joint statement, the two companies announced that FBHI will receive 90 million common shares of BZAM at a price of 15 Canadian cents apiece, representing approximately one-third of the issued and outstanding shares of BZAM.
The deal, valued at C$13.5 million, brings together BZAM’s cultivation, production, and sales infrastructure with the international brands portfolio of Final Bell that it has introduced in the Canadian market.
BZAM’s stock has faced challenges in 2023, with a year-to-date decline of nearly 55%, closing at C$0.15 per share on Tuesday.
Additionally, as part of the agreement, BZAM will enter into a supply contract with FBHI, ensuring that BZAM continues to receive specialized packaging and vaporizing hardware through one of FBHI’s subsidiaries.
Robert Meyer, the CEO of FBHI, highlighted that this merger will position the combined entity as the fifth largest Canadian licensed producer based on a pro forma analysis.