Avant is excited to announce that it has executed four new cannabis export agreements in the past eight weeks. As a result, the Company now has a total of 11 active export agreements spanning three key markets (
In addition to executing international cannabis supply agreements, the Company is pursuing international trademark licensing agreements focused on its BLK MKTTM brand (which can currently only be utilized with flower cultivated by Avant). These agreements create an incremental revenue stream for the Company while building its flagship brand on the global stage. The first such agreement for the
Export is proving to be our fastest growing sales channel in both FY2023 and FY2024, said Norton Singhavon, Founder and Chief Executive Officer of Avant. We are confident that ongoing growth in international cannabis markets will continue to provide robust demand for our premium cannabis.
We are deeply appreciative of the support that we have received from our clients in
Avant would also like to confirm that it is not one of the named companies in the anti-dumping investigation being conducted by
Avant s three largest cultivation facilities all hold ICANN-GAP and GACP certifications; thus, the Company is well-positioned to distribute its premium cannabis flower into international markets. Additional details on the Company s export capabilities are provided in the Avant Export Deck. The Company s export sales are all current, and as of the date of this release, no amounts have been written off as bad debts in relation to international sales.
About
Avant aims to be an innovative, market-leading premium cannabis company. Avant has multiple operational production facilities across
Avant is a publicly traded corporation listed on the
Contact:
Tel: 1-800-351-6358
Email: ir@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 Company s pursuit of international trademark licensing agreements and licensing agreements in other markets; expectations regarding ongoing growth in international cannabis markets and the demand for the Company s products 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; that the Company will build long-term shareholder value and reduce operational expenses; or that the Company will 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: expectations regarding future growth and expansion; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets and inflation-related risks; 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 and the risk factors set out in the Company s annual information form dated
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.
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