Bzam Ltd (TSE:BZAM) has released an update.
BZAM Ltd. has received court approval for creditor protection to restructure its business amidst financial struggles, including cash flow issues and competition in the cannabis industry. The process includes potential asset sales through a court-supervised sale and investment solicitation process (SISP), with the aim of emerging as a stronger entity. Operations will continue during the restructuring, although trading of BZAM’s shares may be halted or delisted.
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