Avant Brands Inc. Announces Strategic Debt Changes

Avant Brands Inc. (TSX:AVNT), a leading producer of innovative and award-winning cannabis, recently announced amendments to certain of the Company's outstanding debts. Norton Singhavon, founder and CEO of Avant, expressed his appreciation to the company's partners, the F-20 and MENA teams, for their continued support. These amendments facilitate the reinvestment of Avant's operating cash flow into near-term strategic objectives, thereby strengthening its financial stability during a year of transformation.

The agreements include an extension of the promissory note with MENA Investment Network Inc., modifying the repayment conditions. From now on, the balance of $720,000 will be paid in monthly installments until July 12, 2024, with an annual interest rate of 12%. In return, Avant has issued and plans to issue common stock. Additionally, an agreement with F-20 Developments Corp. reduces Avant's quarterly payments by more than $1,250,000, involving a voluntary prepayment and the issuance of new shares of common stock and warrants.

These strategic moves show the partners' confidence in Avant's long-term strategy and promise to strengthen its position in the market. The company emphasizes that these actions are subject to final approval by the TSX and that they are not intended to offer or sell securities in the United States.