File: '\\swfile\EmailIn\20240227 130634 Attachment F-20 Early Warning News Release - 2024-02-27.doc'

F-20 DEVELOPMENT CORP.

1391 ELLIS STREET

KELOWNA, BC V1Y 1Z9

February 27, 2024

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 23, 2024, it entered into (i) a partial equity conversion agreement (the "Equity Conversion Agreement"), and (ii) an amended and restated convertible debenture (the "A&R Debenture") replacing in its entirety the debenture dated February 1, 2023 (the "Transaction").

The A&R Debenture matures on October 29, 2025, has monthly amortized payments of approximately $150,000 and bears an interest rate of 15% per annum.

In accordance with the Equity Conversion Agreement, the Company made a voluntary prepayment to the Acquiror against the principal balance of $4,750,000 in the amount of $1,400,000 through the issuance of 16,355,140 Shares of the Company.

Additionally, the Company issued 1,375,000 common share purchase warrants ("Warrants") to acquire Shares of the Company at an exercise price of $0.25 on or before February 23, 2026, subject to acceleration by the Company in the event that the 20-day VWAP of the Shares on the TSX exceeds $0.85.

Prior to the closing of the Transaction, the Acquiror held 17,147,216 Shares of the Company and 5,375,000 Warrants to purchase Shares of the Company, and the Acquiror's non-diluted shareholdings represented approximately 6.56% of the Company's issued and outstanding Shares and the Acquiror's partially diluted shareholdings represented 8.44% 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 33,426,286 Shares of the Company, and 6,750,000 Warrants and the non-diluted shareholdings now represent approximately 12.00% of the Company's issued and outstanding Shares. Thus, on a partially diluted basis (i.e., assuming full exercise of all Warrants and no other issuances of Shares by the Company), the Acquiror would hold a total of 40,176,286 Shares representing approximately 14.08% 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.sedarplus.ca.

Further details of the Transaction in which the Acquiror acquired the Shares and Warrants may be found in the news releases of the Company in relation to the Transaction dated and filed on SEDAR+ on February 26, 2024.