Avant Brands Inc Stock Price, News & Analysis

Avant Brands Inc. has announced a change of auditor from Manning Elliott LLP to Ernst & Young LLP, effective July 26, 2022. The decision was approved by the Company’s board and audit committee, with no reservations or modified opinions reported by the former auditor. This change ensures compliance with National Instrument 51-102 regarding continuous disclosure obligations. Avant Brands operates multiple licensed production facilities across Canada, producing premium cannabis products for both recreational and medical markets.

Avant Brands reported a record revenue of $9 million for H1 2022, a 77% increase from H1 2021. The company saw its recreational cannabis sales reach $5.6 million, up 44%. With a strong cash position of $9 million and no long-term debt, Avant continues to expand production, increasing total output by 58% to 2,556 kg. Despite these achievements, the company reported a net loss of $5.5 million, influenced by non-cash items like share-based compensation. Overall, these results position Avant for future growth opportunities.

Avant Brands Inc. (OTCQX: AVTBF) is set to release its Q2 2022 financial results on July 13, 2022, after the Toronto Stock Exchange closes. A management conference call will follow on July 14, 2022, at 1 PM PT (4 PM ET). Avant, a notable cannabis producer, operates multiple facilities in Canada and offers various award-winning consumer brands including BLK MKT and GreenTec. The company is actively engaged in both recreational and medical cannabis markets, aiming to enhance its market presence and operational capabilities.

Avant Brands Inc. (OTCQX:AVTBF) held its annual general and special meeting on May 26, 2022, with 26,483,507 shares (13.15%) represented. All six director nominees were elected, with votes ranging from 80.30% to 81.97% in favor. Manning Elliott LLP was re-appointed as auditor with 99.57% approval. Shareholders approved amendments to the deferred share unit plan, a long-term incentive plan, and unallocated awards. Avant is a leading cannabis producer based in Kelowna, BC, with a focus on high-quality products across recreational and medical markets.

Avant Brands Inc. (OTCQX: AVTBF) reported a record gross revenue of $4.6 million for Q1 2022, marking a 107% increase year-over-year and a 67% increase quarter-over-quarter. The company achieved a 25% rise in recreational cannabis sales, reaching $2.5 million, and maintained a strong cash position of $11.7 million with no debt. Positive adjustments in operational cash flow and improved margins indicate a solid demand for Avant's premium cannabis products, especially with a 52% gross margin excluding concentrates.

Avant Brands Inc. (OTCQX:AVTBF) plans to release its financial and operational results for Q1 ending February 28, 2022, after the market closes on April 13, 2022. A conference call will follow on April 14, 2022, at 1 PM PT (4 PM ET). This Canadian cannabis company boasts multiple licensed production facilities, offering high-quality products across recreational and medical channels under well-known brands such as BLK MKT™, Tenzo™, and GreenTec™. Avant is publicly traded on multiple exchanges, including the Toronto Stock Exchange.

Avant Brands reported record gross revenues of $11 million for fiscal 2021, a 25% increase from the previous year. Recreational cannabis sales rose by 29% to $7.8 million, signaling strong demand for the company's products. Despite these gains, the company experienced a $5.4 million net loss and an adjusted EBITDA loss of $1.6 million. Operating expenses surged by 46%, attributed to non-recurring costs. The company maintained a robust capital position with $14.3 million in cash and zero debt.

Avant Brands Inc. (OTCQX:AVTBF) has launched its first premium concentrate, BLK MKT™ Peanut Butter Mac Live Rosin, in Ontario, following extensive R&D. The product is solventless, cold-cured, and produced from high-quality cannabis. It achieved significant sales, becoming the top-selling live rosin product in Ontario within its first two weeks. Additionally, the company introduced a new flavour of its Tenzo™ 510 Thread Cartridge, Wedding Crasher, known for its unique blend of terpenes and high-quality materials. Both products are currently available for purchase in Ontario.

Avant Brands Inc. (OTCQX: AVTBF) will release its financial results for the year ended November 30, 2021, on February 24, 2022, after the market closes. A management conference call is scheduled for February 25, 2022, at 1 PM PT (4 PM ET). The company, known for its premium cannabis products, operates across Canada and markets several consumer brands in both recreational and medical sectors. Avant is headquartered in Kelowna, BC, and is publicly traded on the TSX under the symbol AVNT.