Avant Brands Announces $3.88 Million Private Placement to Bolster Capital

Avant Brands Inc. is launching a private placement offering aimed at raising approximately $3.88 million in funds, the company announced from its headquarters in Kelowna, BC. This move is poised to enhance the innovative cannabis producer's operational capital. Scheduled to close by April 30, 2024, the placement will issue up to nearly 45.8 million company units at $0.085 each, bundling a common share with a purchase warrant allowing the acquisition of additional shares at $0.12 over the next three years.

The proceeds from this offering are earmarked for general working capital purposes. A notable anticipated contribution includes a $600,000 lead order from a returning strategic investor, underscoring confidence in Avant's strategic vision and growth trajectory. The offering aligns with Toronto Stock Exchange guidelines and Canadian legal requirements, including a customary four-month hold period for issued securities.

Company insiders' potential participation highlights this transaction as a related party affair under securities regulations, though formal assessments and minority shareholder approvals appear unnecessary due to the transaction's nature and scale. Furthermore, Avant specifies this offering's ineligibility for U.S. investors absent specific exemptions, underlining the offering's adherence to international securities law.