Avant Brands Announces Executive Change
Kelowna, BC – November 3, 2021 – Avant Brands Inc (TSX: AVNT) (OTCQX: AVTBF) (FRA: 1BUP) (“Avant” or the “Company”), a leading producer of premium quality cannabis products, announced today that its Chief Financial Officer (“CFO”), Kendra Blackford has resigned effective November 30, 2021.
Ms. Blackford was appointed as Interim CFO of the Company in August 2019, having previously worked as the Company’s Controller since January 2018. Ms. Blackford will be pursuing an exciting career opportunity outside the cannabis sector, with her departure from the Company taking effect on November 30, 2021.
“I would like to thank Kendra for her contributions over the past four years” said Norton Singhavon, Avant’s Founder and CEO. “Kendra has helped us eliminate our debt and supported us through a key growth period, culminating in back-to-back record quarters.”
“Being part of a new and rapidly emerging industry has been an exciting experience for me, which I have gained a wealth of knowledge and experience from,” said Kendra Blackford, CFO at Avant Brands. “Avant is in a strong financial position, and I am extremely excited for the Company to leverage all of its recent accomplishments towards its next stage of growth.”
The Company has initiated a search for a permanent full-time Chief Financial Officer, with a view of accelerating its revenue growth and achieving profitability.
The Board of Directors would like to thank Ms. Blackford for her service to the Company over the years and would like to wish her all the best on her new career path.
About Avant Brands
Avant is an innovative, market-leading premium cannabis company. Avant has multiple licenced and operational production facilities across Canada, which produce high-quality, handcrafted cannabis products for our highly desired, and award-winning consumer brands, sold across both recreational and medical channels.
Avant’s recreational consumer brands includes BLK MKT™, Tenzo™, Cognōscente™ and Treehugger™, all produced from rare and exceptional cultivars, and sold in British Columbia, Ontario, Saskatchewan, Manitoba, New Brunswick, and Yukon. The Company’s medical cannabis brand, GreenTec™, is distributed nationwide, directly to qualified patients through its GreenTec Medical portal, and through various medical cannabis partners.
Avant is a publicly traded corporation listed on the Toronto Stock Exchange (TSX: AVNT), and trades on the OTCQX Best Market (OTCQX: AVTBF) and Frankfurt Stock Exchange (FRA: 1BUP). The Company is headquartered in Kelowna, British Columbia and has operations in British Columbia, Alberta and Ontario.
To learn more about Avant, to access the investor presentation, or learn more 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 search for a permanent full-time Chief Financial Officer; 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. Examples include statements that the Company will operate in a fiscally disciplined manner; build long-term shareholder value; reduce operational expenses; or increase its revenue and gross margins.
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 projected in the forward-looking information are the following: 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; the impact of COVID-19; and the risk factors set out in the Company’s annual information form dated March 16, 2021, 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 speak 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.