KELOWNA, BC and MELBOURNE, AUSTRALIA / ACCESSWIRE / September 23, 2024 / Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU0) ("Avant" or the "Company"), a leading Canadian producer of award-winning, craft cannabis products, today announced that it has entered into an exclusive trademark licensing agreement with Nectar Portfolio Pty Ltd. ("Nectar"), a leading Australian medicinal cannabis importer and distributor. This landmark agreement marks Avant's strategic entry into the rapidly growing Australian medical cannabis market, introducing its renowned BLK MKT™ brand to a new audience.
The agreement with Nectar adds to Avant Brands' growing international presence, with the BLK MKT™ brand now available in Canada, Australia, Germany, Israel, and Switzerland, representing a combined population of approximately 127 million. The Company is actively engaged in discussions to further expand the reach of its premium cannabis brands into additional global markets. It is anticipated that BLK MKT™ products will be available to Australian consumers in the coming months.
Key Highlights:
Exclusive Partnership: Nectar gains exclusive rights to market, sell, and distribute BLK MKT™ dried cannabis flower throughout Australia for a two-year term, with the potential for extension based on performance.
Premium Brand Recognition: The BLK MKT™ brand is synonymous with ultra-premium quality and a commitment to craft cultivation practices, offering a unique and sought-after experience for consumers. BLK MKT™ stands out in the market due to its unparalleled craft cultivation and ultra-premium cannabis offering.
Authentic Canadian Cannabis: BLK MKT™ products in Australia will be cultivated exclusively by Avant at its Licensed Facilities in Canada, featuring the same high-quality cultivars that have established the brand's reputation in Canada. All products will be grown to meet Australian medicinal cannabis standards, ensuring compliance with local regulations.
Global Expansion: This partnership expands Avant's global footprint, with BLK MKT™ now available in Australia, Germany, Israel, and Switzerland, and active discussions underway for further international expansion.
Stringent Quality Control: All BLK MKT™ products sold internationally will adhere to Avant's rigorous quality control standards, ensuring the brand's reputation for excellence is maintained.
Royalty Structure: Avant will receive its standard international sales price for BLK MKT™ products. Additionally, Avant will earn an additional royalty fee on Nectar's net sales of these products, ensuring a steady revenue stream from this strategic partnership.
Norton Singhavon, Avant Brands Founder and CEO commented:
"We are excited to partner with Nectar Brands, a leader in the Australian medical cannabis industry, to bring our flagship BLK MKT™ brand to patients in Australia. This agreement represents a significant step in our global expansion strategy and we anticipate that it will generate incremental revenue growth for Avant Brands. We believe that the Australian market, as well as other key international markets, presents a tremendous opportunity for growth, and we are confident that our partnerships will be instrumental in establishing BLK MKT™ as a leading global cannabis brand."
Chris Nasr, CEO of Nectar, added:
"We are excited to collaborate with Avant Brands and introduce BLK MKT™ to Australian patients. We are committed to delivering the same exceptional quality and experience that BLK MKT™ is known for in Canada, ensuring that Australian patients have access to the best possible cannabis products."
About Nectar Brands Pty Ltd
Nectar Brands Pty Ltd is a house of healthcare brands at the forefront of Australia's digital health and medicinal cannabis sectors, focused on delivering innovative healthcare solutions and ensuring access to high-quality medicines. Nectars' subsidiary is a leading importer and distributor of medicinal cannabis products in Australia. Committed to improving the lives of Australian patients, Nectar provides safe and effective cannabis-based therapies, fostering better health outcomes and advancing the medical cannabis landscape.
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. Avant's 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 TSX (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 and forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, included herein are forward-looking statements. In particular, forward-looking statements in this press release include, but are not limited to, statements regarding the expected benefits of the exclusive trademark licensing agreement with Nectar Portfolio Pty Ltd., the potential for Avant Brands Inc. ("Avant") to expand into new international markets, the anticipated growth and opportunities in the Australian medical cannabis market, the expected quality and market reception of BLK MKT™ products in Australia and other global markets, and the expectation of a steady revenue stream from the strategic partnership with Nectar.This includes the impact of upcoming regulatory changes in emerging international markets.
Forward-looking statements are typically identified by words such as "believes," "expects," "anticipates," "intends," "estimates," "plans," "may," "will," "would," "could," "should," "continues," "potential," "opportunity," and similar expressions. These forward-looking statements reflect Avant's current beliefs and are based on information currently available to Avant and assumptions it believes are reasonable. However, these forward-looking statements are subject to numerous risks, uncertainties, and other factors, many of which are outside of Avant's control, that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. This includes the impact of upcoming regulatory changes in emerging international markets.
These risks and uncertainties include, but are not limited to: the ability of Avant to successfully integrate and achieve the anticipated benefits of the licensing agreement with Nectar Portfolio Pty Ltd.; the successful cultivation and quality control of BLK MKT™ products; the acceptance of BLK MKT™ products by the Australian market and other international markets; the realization of anticipated revenue from the strategic partnership; regulatory changes and developments affecting Avant's operations and products; competition within the cannabis industry; economic and market conditions; and other risk factors set forth in Avant's public filings with Canadian securities regulators on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. Avant does not undertake any obligation to update any forward-looking statements, except as required by applicable law. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement. This includes the impact of upcoming regulatory changes in emerging international markets.
SOURCE: Avant Brands Inc.