Avant Brands Announces Correction to Private Placement Terms

On April 8, 2024, Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU0), known for producing innovative cannabis products, disclosed a correction concerning its recent non-brokered private placement details. Initially, it was communicated that each Unit of the Offering would include one common share and one common share purchase warrant. The corrected statement clarifies that each Unit will comprise one common share and one-half of one transferable common share purchase warrant, with full warrants enabling the purchase of one common share at $0.12 for 36 months post-Offering.

The revised Offering aims to raise up to $3,888,888 through 45,751,623 Units priced at $0.085 each, with anticipated closure by April 30, 2024. The funds are primarily designated for general working capital. Avant also highlighted significant support from an existing strategic investor with a lead order of $600,000. Securities issued will adhere to a four-month hold period as per TSX rules and applicable securities laws.

Participants in the Offering could include Company insiders, deeming it a "related party transaction," which is not expected to require formal valuation or minority shareholder approval. The Offering and securities mentioned are not registered under the U.S. Securities Act or state laws, restricting their sale in the United States.