Welcome to our dedicated page for Avant Brands news (Ticker: AVTBF), a resource for investors and traders seeking the latest updates and insights on Avant Brands stock.
Avant Brands Inc (AVTBF) is a globally recognized producer of premium craft cannabis, operating state-of-the-art facilities with ICANN-GAP and GACP certifications. This news hub provides investors, analysts, and industry professionals with centralized access to official announcements and strategic developments shaping the company's position in recreational, medical, and international cannabis markets.
Track critical updates including quarterly earnings reports, international licensing agreements, product innovations, and regulatory compliance milestones. Our curated collection ensures timely access to press releases detailing expansion initiatives, partnership announcements, and operational achievements across Avant Brands' diversified business segments.
Key focus areas include cultivation advancements, market entry strategies in regions like Europe and Australia, and quality control enhancements. This resource serves as an essential tool for monitoring the company's progress in executing its vertically integrated business model while maintaining premium product standards.
Bookmark this page for streamlined access to verified information directly impacting Avant Brands' market performance and long-term growth trajectory. Regularly updated content supports informed decision-making for stakeholders tracking the evolving cannabis sector.
Avant Brands (TSX:AVNT)(OTCQX:AVTBF) has announced a $3.9 million private placement of unsecured convertible debenture units. Each unit, priced at $1,000, includes a $1,000 principal amount convertible debenture and 10,000 warrants. The debentures are convertible into shares at $0.10 per share, while warrants are exercisable at $0.10 for 48 months.
Key features include:
- 10% annual interest rate, paid quarterly
- 6.25% of principal repaid quarterly
- 4-year maturity
- 9.99% beneficial ownership limit for the subscriber
The placement is expected to close around July 19, 2024, with proceeds used to repay existing debt. The deal is subject to TSX approval.
Avant Brands (TSX:AVNT)(OTCQX:AVTBF) reported record financial results for Q2 2024, ending May 31. Highlights include:
- Record gross revenue of $9.4 million, up 5% year-over-year
- Record net revenue of $8.3 million, up 4%
- International sales reached a record $3.7 million, up 26%, now 45% of net revenue
- Record Cash Flow from Operations of $4.6 million
- Record Adjusted Net Income of $1.4 million
- Adjusted EBITDA of $2.8 million, with a 34% margin
The company's success is driven by strong international demand for premium cannabis products, particularly in Australia, Germany, and Israel. Avant has executed 9 new international agreements in fiscal 2024, expanding into European markets like Poland, UK, and Czech Republic.
Avant Brands announced the closing of a non-brokered private placement, raising $2,393,333.78 through the issuance of 28,156,868 units at $0.085 per unit. Each unit includes one common share and a half warrant, allowing the purchase of another share at $0.12 within 36 months. Finders' fees totaled $13,600 and 160,000 non-transferable warrants. Proceeds will support working capital and corporate activities. Related parties, including CEO Norton Singhavon and CFO Jeremy Wright, contributed $817,500. The offering awaits final approval from the TSX and securities are subject to a four-month resale restriction.
Avant Brands announced the results of its 2024 Annual General Meeting held on May 30, 2024. A total of 40,063,347 shares, representing 14.08% of the total issued and outstanding common shares, were represented at the meeting. The election of six directors and the reappointment of Ernst & Young LLP as the company's auditor were confirmed. Notably, Michael Blady, previously listed for reappointment, chose not to stand for re-election. Key decisions made included the election of six directors and the reappointment of Ernst & Young LLP as the company’s auditor.
Avant Brands Inc., a leading cannabis products producer, announces the departure of Chief Operating Officer David Lynn, effective July 5, 2024. Mr. Lynn played a important role in the Company's growth, overseeing operations, sales, and team development. Avant expresses gratitude for his contributions and is confident in the leadership team's ability to continue driving innovation and growth. The Board of Directors also confirms that Mr. Michael Blady will not seek re-election at the upcoming Annual General Meeting.
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