Avant Brands Announces 3PL Facility Issued Licences from Health Canada

Published: August 24, 2021

Avant Brands Announces 3PL Facility Issued Licences from Health Canada

Avant Brands Inc, a leading producer of handcrafted, high quality cannabis products, announces that its joint venture, 3PL Ventures Inc, has been issued Standard Cultivation, Standard Processing and Medical Sales Licences, in accordance with Health Canada’s Cannabis Act and Regulations.

“The licensing of 3PL is a key milestone in our continuing growth strategy as we keep up with demand for our award-winning products,“ said Norton Singhavon, Founder and CEO of Avant Brands. “We expect the JV to play a pivotal role in fulfilling growing demand by launching new and unique cultivars under our flagship recreational brands in Canada and supporting our international export strategy.”

The 60,000 square foot facility located in Vernon, BC is currently the largest cultivation facility within the Avant group of companies and will add an additional 50+ rare and unique cultivars, many of which are not currently believed to be available within Canada’s legal cannabis market. The JV is expected to fulfil accelerating demand for Avant’s recreational brands, including the award-winning BLK MKT™, Tenzo™, and Cognōscente™. The JV will also support incremental growth of the GreenTec Medical portal and help fulfil increasing demand for the Company’s international export strategy.

The JV was formed in 2018 between Avant’s wholly-owned subsidiary, GreenTec Holdings Ltd (“GreenTec”) and F-20 Developments Corp (“F-20”). GreenTec holds a 49% equity interest in the JV and an option to acquire the remaining 51% interest from F-20 at a predetermined valuation. In addition, GreenTec also has an option to acquire 3PL’s real estate based upon a predetermined metric for valuing the property. Currently, GreenTec does not intend to exercise its option to acquire F-20’s interest in the JV.

About Avant Brands
Avant is an innovative, market-leading cannabis brand house. Avant has multiple licenced 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. To learn more about Avant, to access the investor presentation, or learn more about its consumer brands, please visit www.avantbrands.ca