Mr. Norton Singhavon reports

AVANT BRANDS STRENGTHENS ITS LEADERSHIP TEAM WITH THE APPOINTMENT OF INDUSTRY EXECUTIVE MIGUEL MARTINEZ AS CFO AND SYLVIA LEE AS BOARD MEMBER

Avant Brands Inc. has appointed industry finance veteran Miguel Martinez as chief financial officer. Miguel will be replacing Matthew Whitt, who resigned as chief financial officer of Avant Brands.

"On behalf of the company's board of directors and management team, we share an immense thank you to Matt for his many contributions to Avant," said Norton Singhavon, founder and chief executive officer of Avant Brands. "Matt was instrumental in elevating our financial reporting and disclosures and supporting us through a period of rapid growth and success. We wish Matt all the best and plenty of success in his future endeavours."

Mr. Martinez brings over a decade of experience in agriculture, working with Village Farms, and has been actively working in the Canadian cannabis market since 2017. He served as vice-president, finance, for Pure Sunfarms, helping to build the company from its initial start-up to generating over $100-million in revenues while maintaining strong profits in a rapid growth environment and being compliant with Sarbanes-Oxley internal control standards. He is a chartered professional accountant (CPA), who began his finance career with PricewaterhouseCoopers in its audit and assurance group, where his industry of focus was financial services.

"We are thrilled to announce the appointment of Miguel as Avant's chief financial officer," continued Mr. Singhavon. "With a proven track record of being an operationally focused finance leader in the cannabis industry, we are confident that Miguel will be a valuable asset to our management team as we enter our next phase of growth through the recent Flowr acquisition. We look forward to the operational focus that Miguel will bring to the table as we continue on our mission to become a global leader in ultrapremium cannabis products."

New board member for election

Avant Brands is also pleased to announce that Sylvia Lee has been added to the slate of directors for nomination to the company's board of directors at the coming annual general meeting of shareholders to be held Tuesday, May 30, 2023, at 1 p.m. PT. She will replace Ruairi Twomey, who is not standing for re-election at the AGM, as the company enters its next chapter of working toward continued growth and profitability. Upon her appointment, five out of the six board members will reside in Kelowna full-time, which will enable strong corporate governance and robust oversight for the company. The board wishes to thank Mr. Twomey for his service and contributions to Avant Brands.

Ms. Lee has an extensive background in corporate and commercial law, focusing on providing general counsel to business with a particular emphasis on mergers and acquisitions, private equity, venture capital, tax, outsourcing, and corporate and tax reorganizations.

She is currently a partner at Quantum Law, a private practice located in the Okanagan, British Columbia, serving clients ranging from small technology start-ups to syndicated lenders and income funds to established multijurisdictional corporations. She began her career at McCarthy Tetrault LLP, where she garnered extensive experience in corporate commercial, franchise and securities law. She was formerly the head in-house counsel and director of legal services for Keg Restaurants Ltd., where she was responsible for determining the company's legal posture and interests in North America and for ensuring business practices and policies met regulatory requirements.

About Avant Brands Inc.

Avant Brands is an innovative, market-leading premium cannabis company. Avant Brands has multiple operational production facilities across Canada, which produce high-quality, handcrafted cannabis products, based on unique and exceptional cultivars. Avant Brands' products are distributed through three complementary sales channels: recreational, medical and export. Avant Brands' recreational consumer brands include: BLK MKT, Tenzo, Cognoscente and Treehugger, which are sold in British Columbia, Saskatchewan, Manitoba, Ontario, Atlantic Canada, Quebec and the territories. The company's medical cannabis brand, GreenTec, is distributed nationwide, directly to qualified patients through its GreenTec Medical portal and through various medical cannabis partners. Avant Brands is a publicly traded corporation listed on the Toronto Stock Exchange (AVNT), and cross-trades on the OTCQX Best Market (AVTBF) and the Frankfurt Stock Exchange (1BU0). The company is headquartered in Kelowna, B.C., and has operations in British Columbia, Alberta and Ontario.

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