Kelowna, BC, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Avant Brands Inc. (TSX: AVNT) (OTCQX: AVTBF) (FRA: 1BUP) (“Avant” or the “Company”), an award-winning leading producer of handcrafted, high quality cannabis products, announces that its wholly-owned subsidiary, Grey Bruce Farms Inc. (“GBF”), has completed its first international export shipment to a leading medical cannabis company in Israel. The initial shipment of over 200 kilograms (“KG”) of cannabis was made by GBF to Focus Medical Herbs Ltd., an Israeli licensed producer with exclusive agreements with IM Cannabis Corp. (“IMC”, NASDAQ: IMCC CSE: IMCC) to distribute products under the IMC brand in Israel.
“This is a significant milestone for Avant to be one of a select number of Canadian companies serving the global cannabis export market,” said Norton Singhavon, Founder and CEO of Avant. “We would like to thank IMC for trusting Avant as its preferred supplier of high-quality cannabis for the Israeli cannabis market. The recent licensing of our 3PL Ventures facility in Vernon, B.C., paves the path forward for Avant to distribute its premium flower into other global markets.”
The Company views the global export market as a significant emerging and untapped opportunity with substantial barriers to entry. Cannabis licence holders must meet rigorous requirements to receive the necessary accreditations, and then complete multifarious administrative and logistical processes. Most importantly, the ability to cultivate high-quality flower is paramount with respect to a company’s ability to be a reliable and reputable long-term player in the premium cannabis export market.
3PL Ventures Inc. (“3PL”) is a 60,000 sq.ft. facility jointly owned by F-20 Developments Corp. and GreenTec Holdings Ltd. (a wholly-owned subsidiary of Avant). 3PL is currently pursuing its ICANN-GAP (Good Agricultural Practices) accreditation, which would enable it to export cannabis to Israel.
About Avant Brands Inc.
Avant is an innovative, market-leading cannabis company. Avant has multiple licensed and operational production facilities across Canada, which produce high-quality, handcrafted cannabis products for our highly desired, and award-winning consumer brands, sold across both recreational and medical channels.
Avant’s recreational consumer brands includes BLK MKT™, Tenzo™, Cognōscente™ and Treehugger™, all produced from rare and exceptional cultivars, and sold in British Columbia, Ontario, Saskatchewan, Manitoba, New Brunswick, and Yukon. The Company’s medical cannabis brand, GreenTec™, is distributed nationwide, directly to qualified patients through its GreenTec Medical portal, and through various medical cannabis partners.
Avant is a publicly traded corporation listed on the Toronto Stock Exchange (TSX: AVNT), and cross-trades on the OTCQX Best Market (OTCQX: AVTBF) and Frankfurt Stock Exchange (FRA: 1BUP). The Company is headquartered in Kelowna, British Columbia and has operations in British Columbia, Alberta and Ontario.
To learn more about Avant, to access the investor presentation, or learn more about its consumer brands, please visit www.avantbrands.ca.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the potential for 3PL to distribute its flower into global markets; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Examples include statements that the Company will operate in a fiscally disciplined manner; build long-term shareholder value; reduce operational expenses; or increase its revenue and gross margins.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in the Company’s annual information form dated March 16, 2021, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
