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Avant Brands Inc. reports developments tied to its premium cannabis business, including recreational, medical, domestic wholesale, and export markets. The company markets consumer brands such as blk mkt™, Tenzo™, Cognōscente™, flowr™, and Treehugger™ in Canada, serves medical cannabis patients through an Avant medical cannabis brand, and maintains international market exposure in Australia, Israel, and Germany.
Recurring updates include quarterly and annual financial results, performance of branded flower and pre-roll products, production and distribution activity, capital-structure actions, shareholder meetings, and governance matters such as its shareholder rights plan. Avant is publicly traded on the Toronto Stock Exchange, the OTCQX Best Market, and the Frankfurt Stock Exchange.
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.
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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.