- Avant Brands (TSX:AVNT) has announced its joint venture 3PL Ventures has been issued licenses from Health Canada
- The licenses include Standard Cultivation, Standard Processing and Medical Sales in accordance with the Cannabis Act and Regulations
- The 3PL facility is located in Vernon, BC and spans 60,000 square feet and is the largest cultivation facility in Avant’s group of companies
- It is expected that the joint venture will fulfill the demand for Avant’s recreational brands BLK MKT, Tenzo and Cognoscente
- The JV will also help the growth of the GreenTec Medical portal
- The JV was formed in 2018 between Avant’s subsidiary Greentec Holings and F-20 Developments
- Shares of Avant Brands remain unchanged at C$0.59
Avant Brands (TSX:AVNT) has announed that its joint venture, 3PL Ventures, has been awarded Health Canada licenses.
In line with Health Canada’s Cannabis Act and Regulations, the licenses include Standard Cultivation, Standard Processing and Medical Sales.
Located in Vernon, BC the 60,000 square foot facility is currently Avant Brand’s largest cultivation facility in its group of companies. It will also add an extra 50 rare and unique cultivars that are not currently available in Canada’s legal market.
It is anticipated that the joint venture will help fuel demand for Avant’s recreational brands, including BLK MKT, Tenzo and Cognoscente. The joint venture will also support the growth of the GreenTec medical portal.
Formed in 2018, the JV was developed between Avant Brand’s wholly-owned subsidiary, GreenTec Holdings and F-20 Developments.
With its headquarters in Kelowna, BC Avant Brands has a wide range of licensed and operational production facilities across Canada. Its recreational consumer brands range from BLK MKT and Tenzo to Cognoscene and Treehugger.
Shares of Avant Brands remain unchanged at C$0.59.