Avant Brands Announces Changes to Finance Leadership Team
Kelowna, B.C. – February 6, 2024 – Avant Brands Inc. (TSX: AVNT) (OTCQX: AVTBF) (FRA: 1BU0) (“Avant” or the “Company”), a leading producer of innovative and award-winning cannabis products, announces that Miguel Martinez will be resigning from his current role as Chief Financial Officer (“CFO”) at Avant Brands to pursue other opportunities.
Effective March 1, 2024, Jeremy Wright, who previously served as the Company’s founding CFO from September 2017 to August 2019, has agreed to rejoin the Company as interim CFO. Miguel will continue his employment with Avant until March 19, 2024, to ensure an effective transition.
“On behalf of the Company’s board of directors and management team, we would like to thank our outgoing CFO, Miguel Martinez, for his many contributions to Avant,” said Norton Singhavon, Founder and Chief Executive Officer of Avant. “Miguel’s experience in agriculture and cannabis added significant value and insights over the past few quarters. We wish Miguel all the best in his future endeavors.”
Jeremy Wright (CPA, CMA) brings more than 20 years of senior management experience to Avant. As the founding CFO of GTEC Holdings (rebranded to Avant and uplisted to the TSX in 2021), Jeremy was deeply involved in developing the Company’s initial long-term strategy, which included assisting in the raising of more than $45 million for the Company during his two-year tenure.
“As the founding CFO for Avant, Jeremy is ideally suited to assist the Company on achieving its global objectives,” said Norton Singhavon, Founder and Chief Executive Officer of Avant. “Jeremy’s expertise in financing along with his contacts in the global capital markets will play a pivotal role as Avant seeks to establish itself as a dominant operator within the ultra-premium cannabis segment. We are excited to have Jeremy rejoin the team and look forward to working with him again.”
About Avant Brands Inc.
Avant is an innovative, market-leading premium cannabis company. Avant has multiple operational production facilities across Canada, which produce high-quality, handcrafted cannabis products based on unique and exceptional cultivars. Avant’s products are distributed via three complementary sales channels: recreational, medical and export. Avant’s recreational consumer brands include BLK MKT™, Tenzo™, Cognōscente™ and Treehugger™, sold in British Columbia, Saskatchewan, Manitoba, Ontario, Atlantic Canada and the territories. The Company’s medical cannabis brand, GreenTec™, is distributed nationwide directly to qualified patients through its GreenTec Medical portal and various medical cannabis partners.
Avant is a publicly traded corporation listed on the Toronto Stock Exchange (TSX: AVNT) and cross-trades on the OTCQX Best Market (OTCQX: AVTBF) and Frankfurt Stock Exchange (FRA: 1BU0). The Company is headquartered in Kelowna, British Columbia, and operates in British Columbia, Alberta, and Ontario.
To learn more about Avant, access the investor presentation, or about its consumer brands, please visit www.avantbrands.ca.
For additional information, please contact:
Investor Relations at Avant Brands Inc.
1-800-351-6358
ir@avantbrands.ca
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding the timing for Mr. Wright’s appointment and Mr. Martinez’s departure from the Company; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those in the forward-looking information are the following: expectations regarding future growth and expansion; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the Company’s annual information form dated February 27, 2023, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.