Kelowna, BC, July 12, 2021 (GLOBE NEWSWIRE) — Avant Brands Inc. (formerly GTEC Holdings Ltd., or GTEC Cannabis Co.) (TSX: AVNT) (OTCQB: GGTTF) (FRA: 1BUP) (“Before” or the “Company”) is pleased to announce that it has completed its rebrand and name change from GTEC Holdings Ltd. to Avant Brands Inc. and has graduated from the TSX Venture Exchange (“TSXV”) to the Toronto Stock Exchange (the “TSX”).
“Our team has worked relentlessly since 2017 to expand our business into a company with multiple licenced cannabis production and processing facilities with two premiere cannabis brands sold across multiple provinces and territories in Canada,” said Norton Singhavon, Chief Executive Officer of the Company. “Today, our rebrand to Avant Brands and graduation to the TSX represents a new chapter in our evolution, and an opportunity to increase our profile and opportunities in the highly competitive North American cannabis market.”
In connection with the name change to Avant Brands Inc., the Company has also launched a newly designed website at www.avantbrands.ca, which includes a new investor presentation. The new website and branding will further align the corporate identity of Avant, as it continues to be an industry leader in innovative cannabis products, branding and marketing.
The Company’s common shares and common share purchase warrants expiring March 30, 2024 are now trading on the Toronto Stock Exchange under the symbol AVNT and AVNT.WT, respectively. In conjunction with its up-listing on the TSX, the common shares and warrants have also been voluntarily delisted from the TSX Venture.
The new CUSIP numbers assigned to the Company’s common shares and warrants on the TSX are 05353D103 and CA05353D1033, respectively. No further action is required to be taken by shareholders or warrant holders of the Company in connection with the name change and graduation.
As previously reported on July 9, 2021, the Company was expected to commence trading on the OTCQX Best Market (“OTCQX”) today. As a result of minor delays, the Company is expected to commence trading on the OTCQX in the coming days and will continue to trade on the OTCQB under the symbol GGTTF until further notice. A news release will be disseminated upon the commencement of trading on the OTCQX.
About Avant Brands Inc.
Avant is an innovative and sector leading producer of high-quality, handcrafted cannabis products. Avant has multiple licensed and operational production facilities across Canada, which produce Avant’s highly sought-after consumer brands across medical and recreational channels.
Avant’s recreational brand portfolio includes BLK MKT™, Tenzo™, Cognōscente™, Treehugger™ and Pristine™ Seeds, which are produced from rare and exceptional cultivars, and sold in British Columbia, Ontario, Saskatchewan, Manitoba and Yukon. The Company’s medical cannabis brand, GreenTec™, is distributed nationwide, directly to qualified patients through its online portal and licensed partners.
Avant is a publicly traded corporation, with its primary listing on the Toronto Stock Exchange (TSX: AVNT), secondary listings on the OTCQB (OTCQB: GGTTF) and Frankfurt Stock Exchange (FRA: 1BUP). The Company is headquartered in Kelowna, British Columbia and has operations in British Columbia, Alberta and Ontario.
To learn more about Avant, to access the investor presentation, or learn more about its portfolio of brands, please visit www.avantbrands.ca.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including with respect to the impact of a TSX listing on the Company; and other expectations for economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Avant believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Avant. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; the actual impact of the TSX listing on the Company; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in Avant’s annual information form dated March 16, 2021, filed with Canadian securities regulators and available on Avant’s profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Avant has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.