Avant Brands Executes Four New Export Agreements
Kelowna, B.C. – February 8, 2024 – Avant Brands Inc. (TSX: AVNT) (OTCQX: AVTBF) (FRA: 1BU0) (“Avant” or the “Company”), an award-winning cannabis brand that aims to be a leading producer of innovative products, is pleased to provide an update on its export sales initiatives.
Avant is excited to announce that it has executed four new cannabis export agreements in the past eight weeks. As a result, the Company now has a total of 11 active export agreements spanning three key markets (Israel, Australia and Germany). Furthermore, the Company has already commenced processing export permits and purchase orders for some of these new supply agreements.
In addition to executing international cannabis supply agreements, the Company is pursuing international trademark licensing agreements focused on its BLK MKTᵀᴹ brand (which can currently only be utilized with flower cultivated by Avant). These agreements create an incremental revenue stream for the Company while building its flagship brand on the global stage. The first such agreement for the Israel market was signed in 2022. The Company is currently exploring expanding its licensing agreements into other markets and expects to provide additional updates in the future.
“Export is proving to be our fastest growing sales channel in both FY2023 and FY2024,” said Norton Singhavon, Founder and Chief Executive Officer of Avant. “We are confident that ongoing growth in international cannabis markets will continue to provide robust demand for our premium cannabis.”
“We are deeply appreciative of the support that we have received from our clients in Israel, Australia, and Germany,” said David Lynn, Chief Operating Officer of Avant. “We would also like to recognize the outstanding work of our cultivation, quality assurance and export employees in facilitating 33 export shipments since August 2021.”
Avant would also like to confirm that it is not one of the named companies in the anti-dumping investigation being conducted by Israel’s Ministry of Economy. Avant’s international business model is based on distributing premium quality flower at premium prices and conscientiously avoids selling product at low price points.
Avant’s three largest cultivation facilities all hold ICANN-GAP and GACP certifications; thus, the Company is well-positioned to distribute its premium cannabis flower into international markets. Additional details on the Company’s export capabilities are provided in the Avant Export Deck. The Company’s export sales are all current, and as of the date of this release, no amounts have been written off as bad debts in relation to international sales.
About Avant Brands Inc.
Avant aims to be 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™, which are 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 through 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 has operations in British Columbia, Alberta and Ontario.
To learn more about Avant, 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 Company’s pursuit of international trademark licensing agreements and licensing agreements in other markets; expectations regarding ongoing growth in international cannabis markets and the demand for the Company’s products; 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; that the Company will build long-term shareholder value and reduce operational expenses; or that the Company will 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: 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 and inflation-related risks; 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 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.