Avant Brands Inc Stock Price, News & Analysis

Avant Brands Inc (OTCQX: AVTBF) reported its Q1 2023 financial results, showcasing a strong performance with gross revenue of $7.9 million, marking a 71% increase from Q1 2022. The company achieved a record Adjusted EBITDA of $1.8 million (+2,158%) and a positive cash flow from operations of $1.8 million (+2,123%). Overall gross margin climbed to 42% compared to 23% in the previous year. Additionally, Avant reported a record adjusted net income of $250,000 (+131%). The first quarter also included the completion of Flowr Okanagan acquisition, anticipated to bolster growth. This marks the third consecutive quarter of positive Adjusted EBITDA and cash flow, reflecting the company's ongoing momentum and effective cost-saving initiatives.

Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF), a leading premium cannabis producer, announced its financial and operational results for Q1 2023 will be released on April 12, 2023, after market close. The company will hold a conference call on April 13, 2023, at 1 PM PT (4 PM ET) to discuss the results. Avant operates multiple production facilities across Canada, offering high-quality cannabis products through recreational, medical, and export channels. The company emphasizes its unique consumer brands like BLK MKT, Tenzo, and GreenTec, catering to diverse markets. More details can be found on the company's website.

Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF) has successfully completed its acquisition of the remaining 50% equity stake in Avant Brands K1 Inc. from MENA Investment Network Inc. on March 14, 2023, for approximately $4.56 million. This acquisition enables Avant to fully own Avant K1, which in turn owns Flowr Okanagan. The payment consisted of a promissory note of about $1.45 million and the issuance of 18,137,780 common shares. Avant's CEO, Norton Singhavon, expressed that this move is crucial for the company's short-term growth strategy and aims to establish a foundation for profitability.

Avant Brands Inc. (TSX:AVNT, OTCQX:AVTBF) will release its financial and operating results for the year ended November 30, 2022, on February 27, 2023, after the market close. The company will hold a conference call on February 28, 2023, at 1 PM PT (4 PM ET) to discuss the results. Avant is known for its premium handcrafted cannabis products distributed through recreational, medical, and export channels. The company operates multiple production facilities across Canada and focuses on delivering high-quality cannabis to its consumers.

Avant Brands Inc. has successfully concluded its acquisition of Flowr Okanagan for approximately $5.115 million, consisting of $3.850 million in cash and $1.265 million in Avant Shares. This deal significantly expands Avant's cultivation facilities to around 185,000 square feet and is expected to boost annual production capacity by 60%. With this acquisition, Avant positions itself among Canada's largest indoor ultra-premium cannabis producers. The transaction is financed through a combination of a credit bid and cash, in addition to the assumption of specific liabilities.

Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF) has completed its acquisition of the remaining 50% equity stake in 3PL Ventures Inc. for a total of $15 million. This strategic move, executed by its subsidiary GreenTec Holdings Ltd., aims to enhance Avant's growth strategy and meet the rising demand for its premium cannabis products. The purchase consists of $1.5 million in cash, a $9.5 million convertible debenture, and the issuance of over 22 million shares. The acquisition is projected to bolster cash flow as 3PL recently became cash-flow positive. The payment involves quarterly installments starting April 2023.

Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF) has clarified an error regarding its 80,000 square-foot production facility in Kelowna, BC. The company executed significant transactions, acquiring Flowr Okanagan and the remaining stake in 3PL Ventures, expected to enhance production capabilities by 60%. This growth aims to position Avant as a leading indoor cannabis producer in Canada. With an estimated $6.9 million in cash available, Avant plans modifications for both facilities, fulfill government orders, and explore new export markets in 2023.

Avant Brands Inc. (TSX:AVNT, OTCQX:AVTBF) announced significant strategic growth through two acquisitions: Flowr Okanagan, enhancing production by about 60%, and the remaining stake in 3PL Ventures, expected to generate substantial cash flow. With approximately $7 million in cash and no debt as of November 30, 2022, the company aims to maximize production capabilities and explore global markets. Key strategic objectives include fulfilling government orders, launching new cannabis cultivars, and optimizing production costs throughout 2023.