Avant Brands Inc - AVTBF stock
Overview[edit]
Avant Brands Inc. (OTC: AVTBF, TSX: AVNT), formerly known as GTEC Holdings Ltd., produces and sells medical marijuana and other cannabis products. The company has been operating since 2017 and is based in Kelowna, Canada. Sales are obtained through retail locations and ecommerce, under brand names including Tenzo, BLK MKT, GreenTec, Pristine, Treehugger, and cognoscente.[1]
Avant Brands has posted significant revenue for several years running, as well as year over year growth, however, profitability is nowhere in sight. Losses have exceeded revenue in each of the past three years as of the year ending 11/30/2021. Capital raises $11,000,000 in 2019 and $20,000,000 in 2021 have sustained the company.[2]
History[edit]
The company was launched with the acquisition of Tumbleweed Farms in 2017. Shortly thereafter, Grey Bruce Farms (formerly OrganaGreen) and Avant Craft Cannabis (formerly GrenEx Pharms) were added. Avant stock began trading when it was listed on the TSX in June, 2018. A cultivation license was received in 2018 and the first sale was made later that year. The ecommerce site was launched in 2021.[3]
Brands[edit]
Several brands are produced and marketed, catering to a variety of consumer needs:
- BLK MKT is a top-of-the-line product for experienced cannabis users who seek the highest quality. During its first two weeks of sales in Ontario, BLK MKT was the top selling live rosin product. It comes in a peanut butter flavor.[4]
- Tenzo combines multiple cultivars that include a variety of flavors and strong aromas.[5]
- GreenTec was the first product offered by Avant, and is medical marijuana for patients in Canada.[5]
- Treehugger is an organic, environmentally friendly brand grown in natural sunlight, which comes in a pre-roll multipack, and is claimed to be the most environmentally friendly product on the market. The packaging is recyclable or biodegradable, and labels are made with hemp.[6]
- Cognoscente, another premium brand, is billed as a limited-edition curated offering.[5]
Leadership[edit]
Avant Brands has a leadership team that includes:[7]
- Norton Singhavon (Founder, CEO and Director) is experienced many aspects of the legal cannabis industry in North America.
- David Lynn (COO) has experience in the food and beverage industries.
- Matt Whitt (CFO) is highly experienced in financial management at firms such as Deloitte, Fog Cutter Capital, and Mark Anthony.
Flowr Group Acquisition[edit]
On December 8, 2022, Avant announced the acquisition of Flowr Group for $5.115 million ($4.015 million in cash and $1.1 million in stock). The result of this acquisition will be a 60% increase in Avant’s production capacity in 185,000 square feet of facilities. This deal is in line with Avant’s intention of pursuing investment opportunities of this nature. Flowr Group had previously filed for court protection and received a debtor-in-possession loan from Avant of $2 million. [8]
- ↑ Yahoo Finance. AVTBF Stock Profile. Accessed on 12/9/2022.
- ↑ Yahoo Finance. AVTBF Financials. Accessed on 12/9/2022.
- ↑ Avantbrands.ca. Investor Presentation. Accessed on 12/9/2022.
- ↑ Accesswire. Avant Launches First BLK MKT(TM) Premium Concentrates. February 16, 2022.
- ↑ 5.0 5.1 5.2 AvantBrands.ca. Brands. Accessed on 12/9/2022.
- ↑ Accesswire. Avant Launches Premium Organic Flower for the Environmentally Conscious Cannabis Consumer. February 1, 2022.
- ↑ AvantBrands.ca. About Avant Brands. Accessed on 12/9/2022.
- ↑ Castanet.net. Kelowna's Avant buys Flowr in $5-million cannabis deal. December 8, 2022.
OTC Symbol: AVTBF | OTC Tier: OTCQX International
