- Avant Brands (AVNT) has acquired Flowr Okanagan
- Avant Brands K1, an entity Avant Brands owns a 50-per-cent stake in, acted as the purchaser in the acquisition
- The acquisition will make Avant Brands one of Canada’s largest producers of indoor-grown, ultra-premium cannabis
- Avant Brands is a premium cannabis company with multiple operational production facilities across Canada
- Avant Brands (AVNT) is up by 13.64 per cent, trading at $0.25 per share
Avant Brands (AVNT) has acquired Flowr Okanagan for $5,115,000 in cash, shares and assumed debt.
Avant Brands K1, an entity in which Avant Brands owns a 50-per-cent stake, acted as the purchaser in the finalized acquisition.
The Flowr Group (Okanagan) was a subsidiary of The Flowr Corporation (FLWR; FLWPF), a Canadian cannabis company with its operating campus located in Kelowna, British Columbia. The transaction was enabled by the Flowr Group filing for creditor protection.
The acquisition will increase Avant’s overall cultivation facilities to 185,000 sq. feet and is expected to increase annual production by 60 per cent, making Avant one of Canada’s largest producers of indoor-grown, ultra-premium cannabis.
Avant is a premium cannabis company with multiple operational production facilities across Canada. Its brands include BLK MKT, Tenzo, Cognoscente, Treehugger and GreenTec.
Avant Brands (AVNT) is up by 13.64 per cent, trading at $0.25 per share as of 9:41 am EST.
