Avant Brands Strengthens Board with the Addition of Tyson Macdonald
Kelowna, BC – March 4, 2024 – Avant Brands Inc. (TSX: AVNT) (OTCQX: AVTBF) (FRA: 1BU0) (“Avant” or the “Company”), a leading producer of innovative, premium handcrafted cannabis products, announces today that Tyson Macdonald has joined the Company’s Board of Directors effective March 1, 2024.
Tyson brings over 20 years of C-suite expertise in investment and transactions across diverse markets and sectors. As CEO of Nova Net Lease REIT (CSE: NNL.U), Tyson remains committed to actively investing in the US Cannabis Market. As former CFO of Cloud Cannabis, Tyson helped grow the company into a leading vertically integrated operator in the Michigan market. As EVP of Corporate Development at Acreage Holdings, Tyson spearheaded strategic growth in the US cannabis market, solidifying the company's prominence. His leadership culminated in the transformative $3.5 billion deal with Canopy Growth, showcasing Acreage Holdings' visionary edge.
Norton Singhavon, Founder and CEO of Avant, commented, “We're thrilled to have Tyson join our board of directors. His alignment with our vision of creating a premier cannabis enterprise focused on delivering top-notch products and experiences is evident. With a proven track record, Tyson's insights and guidance are invaluable assets. Coming from the United States, Tyson also brings global industry perspectives and geographic diversity to our board, enriching our strategic outlook. We anticipate Tyson's expertise will propel Avant towards achieving our goals and driving sustained shareholder value.”
Tyson Macdonald commented, "I'm truly impressed by Avant's remarkable achievements in such a challenging market and industry. I'm eager to contribute my expertise and extensive network within the U.S. and globally to Avant. I'm committed to supporting their rapid growth as they pursue their mission to become a premier, globally recognized ultra-premium cannabis company."
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™, which are sold in British Columbia, Saskatchewan, Manitoba, Ontario, Atlantic Canada, Québec 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
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 the Company’s dedication to strategic excellence and operational efficiency; expected success and growth in Fiscal 2024 and beyond; the Company’s commitment to long-term success and maximizing shareholder value; the Company’s expectations regarding significant cash flows; the Company’s expectations regarding the Flowr Facility; the Company’s intentions to elevate its flagship brand, BLK MKTTM, at the global stage; opportunities for innovation, streamlining and optimization in connection with the acquisition of the remaining 50% of 3PL; management’s expectations regarding growth in Canadian adult-use sales in connection with the Company’s Quebec listings; the Company’s expectations regarding sales growth and expected increases in gross revenues; the availability of the Audited Financial Statements and the MD&A on the Company’s SEDAR+ profile and on its website; and expectations for other economic, business, and/or competitive factors. To the extent any forward-looking information in this news release constitutes “financial outlooks” within the meaning of applicable Canadian securities laws, such information is being provided as preliminary financial results and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks. 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. Financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to various risks as set out herein. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s financial results may differ materially. Examples include statements that the Company will build long-term shareholder value and reduce operational expenses; or that the Company will increase its revenue and maintain stable costs.
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 February 27, 2023, filed with Canadian securities regulators and available on the Company’s profile on SEDAR+ at www.sedarplus.ca.
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.
This news release refers to certain financial performance measures that are not defined by and do not have a standardized meaning under International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. These non-IFRS financial performance measures are defined in the MD&A. Non-IFRS financial measures are used by management to assess the financial and operational performance of the Company. The Company believes that these non-IFRS financial measures, in addition to conventional measures prepared in accordance with IFRS, enable investors to evaluate the Company’s operating results, underlying performance and prospects in a similar manner to the Company’s management. As there are no standardized methods of calculating these non-IFRS measures, the Company’s approaches may differ from those used by others, and accordingly, the use of these measures may not be directly comparable. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.