BZAM Holdings Inc. Acquires Additional Securities of Speakeasy Cannabis Club

ROCK CREEK, BC, May 7, 2019 /CNW/ - BZAM Holdings Inc. ("BZAM") announces that on April 24, 2019, BZAM acquired 6,153,847 units (the "Units") of Speakeasy Cannabis Club Ltd. ("Speakeasy"). Each Unit comprised one common share in the capital of Speakeasy (each, a "Common Share") and one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant exercisable to purchase one additional Common Share at a price of $1.00 per Common Share for 24 months from the date of closing. Speakeasy issued the Units pursuant to a non-brokered private placement from treasury completed in two tranches on April 24 and April 25, 2019 (the "April Private Placement"). BZAM acquired ownership of the 6,153,847 Units in the first tranche of the April Private Placement at a price of $0.65 per Unit for a total purchase price of $4,000,000.55.

Immediately prior to the completion of the April Private Placement, BZAM held a total of 9,700,000 Common Shares, representing approximately 12.87% of the issued and outstanding Common Shares on a non-diluted basis, and 4,850,000 Warrants, which, when aggregated with the Common Shares, represented approximately 18.14% of the Common Shares on a partially diluted basis.

As at April 25, 2019, immediately following the completion of both tranches of the April Private Placement, BZAM held a total of 15,853,847 Common Shares, representing approximately 18.25% of the issued and outstanding Common Shares on a non-diluted basis, and 11,003,847 Warrants, which, when aggregated with the Common Shares BZAM held, represents approximately 27.44% of the Common Shares on a partially diluted basis.

The securityholding percentages of BZAM described above are calculated using the outstanding total Common Shares as disclosed in Speakeasy's management discussion and analysis filed on SEDAR on April 1, 2019 and the aggregate number of Common Shares issued pursuant to the April Private Placement as disclosed in Speakeasy's press release filed on SEDAR on April 25, 2019.

BZAM acquired the Units for investment purposes. BZAM expects to monitor the business, prospects, financial condition and potential capital requirements of Speakeasy, and depending on its evaluation of these and other factors, BZAM may from time to time in the future increase or decrease its direct or indirect ownership, control or direction over Common Shares or other securities of Speakeasy through market transactions, private agreements, subscriptions from treasury or otherwise.

Speakeasy's head office address is 1515 Meyers Creek Road West, Rock Creek, BC, V0H 1Y0.

SOURCE BZAM Holdings Inc.