KELOWNA, BC, TORONTO, ON and GLIL YAM, ISRAEL / ACCESSWIRE / April 4, 2024 / Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU0) ("Avant" or the "Company"), a leading producer of innovative and award-winning cannabis products and IM Cannabis Corp. (CSE:IMCC)(NASDAQ:IMCC) (the "Company", "IMCannabis", or "IMC"), a leading medical cannabis company with operations in Israel and Germany, are pleased to announce the signing of an International Trademark Licensing Agreement (the "Licensing Agreement") granting IMC's German subsidiary, Adjupharm GmbH ("Adjupharm"), the exclusive right to launch Avant's flagship brand, BLK MKT™ brand in the German cannabis market. The Licensing Agreement constitutes a significant expansion of the relationship between the two industry-leading cannabis companies.
Norton Singhavon, Founder and CEO of Avant Brands, commented: "This agreement signifies a significant milestone in our longstanding partnership with IMC. As Avant's first client within our international sales channel, partnering with IMC is a strategic move; it not only bolsters our position as a global leader in the ultra-premium cannabis sector, it also amplifies the reach of our flagship brand, BLK MKT, on the global stage. We are thrilled to embark on this next phase of collaboration, leveraging our collective expertise driving innovation and excellence in the international cannabis market."
In accordance with the terms outlined in the Trademark License Agreement, Avant has granted Adjupharm the license to utilize its flagship BLK MKT™ cannabis brand for their cannabis products. These products will exclusively feature cannabis cultivated by Avant in Canada and exported to Germany. The collaboration between the two companies anticipates a positive outcome in the emerging German medical cannabis market, especially following the recent legalization by the government on April 1st, 2024 . This strategic partnership, timed with evolving German legislative changes, underscores a growing acknowledgment of cannabis' therapeutic advantages and signifies a progressive shift in drug policy within Germany. Avant and IMC are confident the integration of Avant's BLK MKT™ premium cannabis flower, alongside IMC's adept sales and marketing strategies, will resonate strongly with consumers, positioning the brand for success in Germany's burgeoning market.
Oren Shuster, CEO of IMC, commented: "By evolving our partnership with Avant, we continue to improve our supply chain and ability to provide ultra-premium, quality brand and product to the German medical cannabis market."
Richard Balla, CEO of Adjupharm additionally stated: "We believe that our collaboration with Avant will continue to accelerate the strong momentum we have established in the German medical cannabis market."
David Lynn, COO of Avant Brands, added: "We are very excited to be working with IMC's German team. We are confident that they will do an outstanding job launching the BLK MKT brand in Germany."
Avant's commitment to quality and compliance is exemplified by the certification of its three largest cultivation facilities with both ICANN-GAP (International Cannabis Certification Network - Good Agricultural Practices) and GACP (Good Agricultural and Collection Practices). These certifications underscore Avant's dedication to upholding the highest standards of cultivation practices, ensuring the production of premium-grade cannabis flower. With these certifications, Avant is not only positioned to meet the stringent regulatory requirements of domestic markets but also equipped to expand its reach into international markets with confidence. By adhering to globally recognized standards for cultivation, Avant reinforces its reputation as a trusted provider of top-tier cannabis products, poised for success in both existing and emerging cannabis markets worldwide.
Adjupharm is the 6th largest distributor of medical cannabis flowers in Germany and is the number 1 in sales per SKU, growing +180% in 2023.1
Note 1: Insight Health December 2023
About Avant Brands Inc.
Avant is an innovative, market-leading premium cannabis company. Avant has multiple operational production facilities across Canada, which produce high-quality, handcrafted cannabis products based on unique and exceptional cultivars.
Avant offers a comprehensive product portfolio catering to recreational, medical, and export markets. Our renowned consumer brands, including BLK MKT™, Tenzo™, Cognōscente™, flowr™ and Treehugger™, are available in key recreational markets across Canada. Avant's products are distributed globally to Australia, Israel and Germany, with its flagship brand BLK MKT™ currently being sold in Israel. Additionally, Avant's medical cannabis brand, GreenTec™, serves qualified patients nationwide through its GreenTec Medical portal and trusted medical cannabis partners.
Avant is a publicly traded corporation listed on the Toronto Stock Exchange (TSX:AVNT) and accessible to international investors through the OTCQX Best Market (OTCQX: AVTBF) and Frankfurt Stock Exchange (FRA: 1BU0). Headquartered in Kelowna, British Columbia, Avant operates in strategic locations, including British Columbia, Alberta, and Ontario.
For more information about Avant, including access to investor presentations and details about its consumer brands, please visit www.avantbrands.ca.
For further inquiries, please contact:
Investor Relations at Avant Brands Inc.
1-800-351-6358
[email protected]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often identified by terms such as 'may', 'will', 'should', 'expect', 'anticipate', 'could', 'intend', 'target', 'project', 'estimate', 'believe', 'predict', 'potential', 'plan', 'objective', 'contemplate', 'seek', 'aim', 'continue', 'budget', 'forecast', 'projections', 'outlook', 'strategy', 'priority', 'goal', 'aim', 'pursue', 'on track', 'initiative', 'expand', 'maintain', 'monitor' and similar expressions or their negatives. Forward-looking information in this press release includes, but is not limited to, statements regarding the potential benefits of the Licensing Agreement, the Company's ability to meet the growing demand in the German medical cannabis market, and the Company's future performance and growth prospects.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include, but are not limited to, market conditions, regulatory changes, competition, and the Company's ability to execute its business plans and strategies. The Company cautions that the foregoing list of assumptions, risks, and uncertainties is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, inherent risks, and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will not occur. Readers should not rely upon forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are made as of the date of this release, and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.