Canadian cannabis producer BZAM has reduced annual costs by $20m since merging with The Green Organic Dutchman last year. However, this progress towards positive EBITDA has resulted in a significant reduction in staff and the closure of several facilities. BZAM has worked to dramatically reduce headcount and monetize four redundant facilities since the merger in November 2022. The sale of these facilities, expected to be completed by Q1 2024, will generate over $10m, with $9m being used to reduce debt. The elimination of these facilities is also expected to lead to a substantial reduction in fixed operating expenses and improved margins. Overall, BZAM has reduced fixed operating expenses by approximately $8 annually and lowered selling, general, and administrative expenses to an estimated annual run rate of $28m. In Q3, net revenues increased by 5% to around $20.3m compared to the previous period. BZAM CEO Matt Milich stated that the company is proud to be leading the charge in the consolidation of the Canadian cannabis industry and is well-positioned to succeed in both domestic and international markets.

Canadian cannabis producer BZAM has made significant strides in reducing costs and improving efficiency since merging with The Green Organic Dutchman last year. The company has managed to reduce annual costs by $20m, a move that has propelled it towards positive EBITDA. However, this progress has necessitated a substantial reduction in staff and the closure of several facilities.

Since the merger in November 2022, BZAM has worked diligently to reduce headcount and monetize four redundant facilities. The sale of these facilities, which is expected to be completed by Q1 2024, will generate over $10m, with $9m being used to reduce debt. The elimination of these facilities is also expected to lead to a substantial reduction in fixed operating expenses and improved margins.

Overall, BZAM has managed to reduce fixed operating expenses by approximately $8m annually and has lowered selling, general, and administrative expenses to an estimated annual run rate of $28m. In Q3, net revenues increased by 5% to around $20.3m compared to the previous period.

BZAM CEO Matt Milich stated that the company is proud to be leading the charge in the consolidation of the Canadian cannabis industry and is well-positioned to succeed in both domestic and international markets.

1. [“Canadian cannabis producer BZAM has reduced annual costs by $20m since merging with The Green Organic Dutchman last year”]
2. [“BZAM has worked to dramatically reduce headcount and monetize four redundant facilities since the merger in November 2022”]
3. [“The sale of these facilities, expected to be completed by Q1 2024, will generate over $10m, with $9m being used to reduce debt”]
4. [“In Q3, net revenues increased by 5% to around $20.3m compared to the previous period”]
5. [“BZAM CEO Matt Milich stated that the company is proud to be leading the charge in the consolidation of the Canadian cannabis industry and is well-positioned to succeed in both domestic and international markets”]
6. BZAM has ‘Significantly Improved Margins’ Since Merger as Hundreds of Jobs Lost and Numerous Sites Sold  – Business of Cannabis

 Canadian cannabis producer BZAM has managed to reduce annual costs by $20m since its merger with The Green Organic Dutchman last year¹. This significant reduction in costs is a result of the company’s efforts to unlock company-wide synergies following the merger¹. These efforts included eliminating redundant facilities, realigning the company’s production activities across remaining sites to maximize efficiencies, and reducing selling, general, and administrative (SG&A) expenses¹. The company’s goal is to achieve positive EBITDA¹.

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1. finance.yahoo.com2. acowtancy.com3. acowtancy.com