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05:23:30 EDT Tue 13 May 2025
Enter Symbol
or Name
USA
CA



Avant Brands Inc
Symbol AVNT
Shares Issued 254,859,159
Close 2023-03-23 C$ 0.175
Market Cap C$ 44,600,353
Recent Sedar Documents

Avant shareholder F-20 boosts shareholding to 9.72%

2023-03-23 17:29 ET - News Release

Subject: F-20 Development Corp. - Early Warning News Release - Immediate Dissemination Word Document File: '\\swfile\EmailIn\20230323 140123 Attachment F-20 Early Warning News Release - 2023-03-23.doc' F-20 DEVELOPMENT CORP. 1391 ELLIS STREET KELOWNA, BC V1Y 1Z9 March 23, 2023 FOR IMMEDIATE RELEASE F-20 DEVELOPMENT CORP. ANNOUNCES AN INCREASE IN OWNERSHIP OF SHARES OF AVANT BRANDS INC. F-20 Development Corp. (the "Acquiror"), a shareholder of Avant Brands Inc. (the "Company"), announces that, on February 1, 2023, it completed the transaction (the "Transaction") pursuant to which the Company purchased the 50% equity stake in 3PL Ventures Inc. from the Acquiror for a purchase price of $15,000,000, which was satisfied as follows: $1,500,000 cash paid on the closing date; $9,500,000 payable by way of a convertible debenture (the "Debenture"). The Debenture may be converted into Shares of the Company, at the election of the Acquiror, at a conversion price of $0.50 per Share in the capital of the Company. The Debentures bear an interest rate of 10% per annuum and have a maturity date of August 1, 2024; 16,430,573 Shares (subject to escrow); 5,819,161 Shares; and 5,000,000 Share purchase warrants (each a "Warrant"). Each Warrant entitles the Acquiror to purchase one additional Share of the Company at an exercise price of $0.50 per Share until February 1, 2025, subject to an acceleration by the Company in the event that the volume weighted average trading price of the Shares on the TSX exceeds $1.25 for a period of 20 consecutive trading days. Prior to the closing of the Transaction, the Acquiror held 45,000 Shares of the Company and 375,000 Warrants to purchase Shares of the Company, and the Acquiror's non-diluted shareholdings represented approximately 0.02% of the Company's issued and outstanding Shares and the Acquiror's partially diluted shareholdings represented 0.20% of the Company's issued and outstanding Shares (i.e., assuming full exercise of all Warrants and no other issuances of Shares by the Company). Following the closing of the Transaction, the Acquiror held 22,294,734 Shares of the Company, Debentures convertible into up to 19,000,000 Shares, assuming the entire principal sum of the Debenture is converted into Shares of the Company, at the election of the Acquiror, and 5,375,000 Warrants and the non-diluted shareholdings now represent approximately 9.72% of the Company's issued and outstanding Shares. Thus, on a partially diluted basis (i.e., assuming full exercise of all Warrants, full conversion of all Debentures by the Acquiror and no other issuances of Shares by the Company), the Acquiror would hold a total of 46,669,734 Shares representing approximately 18.39% of the Company's issued and outstanding Shares. The Acquiror may increase or decrease its ownership of securities of the Company as the circumstances or market conditions warrant. To obtain a copy of the early warning report filed by the Acquiror, please contact the Acquiror at 250-215-5028 or refer to the Company's SEDAR profile at www.sedar.com. Further details of the Transaction in which the Acquiror acquired the Shares, Debentures and Warrants may be found in the news releases of the Company in relation to the Transaction dated and filed on SEDAR on February 2, 2023.

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