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 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.
Avant Brands Inc. (OTCQX: AVTBF) reported record gross revenues of $8.8 million for Q4 2022, a significant increase of 88% from Q3 2022 and 219% year-over-year. For fiscal 2022, revenues reached $22.6 million, up 105% from the prior year. The company produced approximately 1,752 kilograms of cannabis in Q4 and 5,729 kilograms for the fiscal year. Notable achievements include completing 9 export shipments totaling $5 million to international markets and launching new product lines. The audited financial results will be released on February 22, 2023.
Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF) announced the acquisition of the remaining 50% stake in 3PL Ventures Inc. for $15 million, enhancing its position in the cannabis market. This strategic move is expected to generate meaningful cash flows as 3PL has recently become cash-flow positive. The transaction includes $1.5 million in cash, a convertible promissory note of $9.5 million, and $4 million in shares. Closing is anticipated around February 1, 2023. Additionally, Avant is set to finalize its acquisition of The Flowr Group in Q1 2023, marking a transformative year ahead.
Avant Brands has secured a 50% joint venture to acquire Flowr Okanagan for approximately $4.015 million and $1.1 million in shares. This acquisition will add 185,000 square feet of cultivation space and is projected to enhance production capabilities by 60%. With this expansion, Avant aims to position itself as one of Canada's largest producers of ultra-premium cannabis. The transaction is expected to close in Q1 2023, subject to regulatory approval.
Avant Brands has entered a $3.88 million binding offer to acquire Flowr Okanagan and its 85,000 sq ft facility, expected to boost production capabilities by 60%. This acquisition will expand Avant's total cultivation area to 185,000 sq ft, positioning it among Canada’s largest indoor cannabis producers. The agreement is subject to Ontario Superior Court approval and may lead to a name change for the purchasing entity. This strategic move aims to meet increasing global demand for Avant's premium cannabis products.
Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF) announced a $2,000,000 debtor-in-possession loan to The Flowr Corporation amid Flowr's court protection application under the Companies' Creditors Arrangement Act. Avant owns 50% of the DIP Lender, 1000343100 Ontario Inc., and the loan is subject to court approval. The company emphasized its position as a premium cannabis producer with operations across Canada, engaging in recreational, medical, and export sales channels.
Avant Brands reported a 67% increase in Year-to-Date Gross Sales, totaling $13.8 million, for Q3 2022. The company achieved a new quarterly sales record with Q3 Gross Sales at $4.7 million, alongside positive Adjusted EBITDA and cash flow from operations. Total production soared 69% to 3,976 kg, and cannabis sales volume rose 98% to 2,495 kg. Despite a 2% decline in recreational gross revenue per gram, Avant maintained a robust balance sheet with $8 million in cash and no bank debt.
Avant Brands and IM Cannabis Corp. announced on October 12, 2022, a Licensing Agreement permitting IMC exclusive rights to launch the BLKMKT brand in Israel's medical cannabis market. This agreement enhances their collaboration, allowing IMC to utilize Avant’s premium cannabis products in its offerings. The partnership aims to meet the increasing demand for high-quality cannabis in Israel and strengthens IMC’s leadership in the ultra-premium segment. Avant will provide cannabis grown in Canada, ensuring compliance with regulatory standards.
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