Avant Brands Announces Closing of Non-Brokered Private Placement

KELOWNA, BC / ACCESSWIRE / June 4, 2024 / Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU0), a leading cannabis producer, has announced the closing of its non-brokered private placement, pending Toronto Stock Exchange (TSX) approval. The offering raised $2,393,333.78 at $0.085 per unit through 28,156,868 units. Each unit includes one common share and a half-warrant, with each whole warrant exercisable at $0.12 per share for 36 months from the closing date.

Related parties participated, including CEO Norton Singhavon ($175,000) and CFO Jeremy Wright ($42,500). The total insider and related-party investment amounted to $817,500. Proceeds will support working capital and corporate activities. The issued securities are subject to a four-month and one-day Canadian resale restriction.

The private placement's completion is pending necessary regulatory approvals, including from the TSX. This release is informational and not an offer to sell in any jurisdiction.