BZAM Ltd. announced that it has entered into an engagement letter with Clarus Securities Inc. pursuant to which the agent has agreed to conduct, on a ?best-efforts? marketed basis, a private placement of up to 15,384,615 units at an issue price of CAD 0.13 per unit for the aggregate gross proceeds of CAD 2,000,000 on October 2, 2023. Each Unit will consist of one common share and one Share purchase warrant with each Warrant entitling the holder thereof to acquire one share at an exercise price of CAD 0.18 per warrant share for a period of three years from the closing date.

The transaction is expected to close on or about October 12, 2023 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.