An anonymous director reports

AVANT BRANDS LAUNCHES $3.88 MILLION NON-BROKERED PRIVATE PLACEMENT OFFERING

Avant Brands Inc. has arranged a non-brokered private placement to secure up to $3,888,888 in gross proceeds.

The offering will consist of up to 45,751,623 units of the company at a price of 8.5 cents per unit. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. The offering is expected to close on or about April 30, 2024, or on such other date or dates as the company may determine. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 12 cents for a period of 36 months following the closing date of the offering. The gross proceeds from the offering will be primarily used for general working capital purposes. The company anticipates receiving a lead order totalling $600,000 from an existing strategic investor, reflecting its continuing support and belief in Avant's strategic direction and potential for growth.

Any securities to be issued under the offering will be subject to a hold period of four months and one day from the closing date of the offering, in accordance with the rules and policies of the Toronto Stock Exchange, and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws. The offering remains subject to the approval of the TSX.

It is anticipated that insiders of the company may participate in the offering. By virtue of their participation, the offering would constitute a related party transaction under applicable securities laws. The company expects to release a material change report including details with respect to the related party transaction fewer than 21 days prior to the closing of the offering, which the company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the offering in an expeditious manner. As the related party transaction will not exceed specified limits and will constitute a distribution of securities for cash, it is expected that neither a formal valuation nor minority shareholder approval will be required in connection with the offering.

About Avant Brands Inc.

Avant is an innovative, market-leading, premium cannabis company. Avant has multiple operational production facilities across Canada, which produce high-quality, handcrafted cannabis products based on unique and exceptional cultivars.

Avant offers a comprehensive product portfolio catering to recreational, medical and export markets. The company's renowned consumer brands, including BLK MKT, Tenzo, Cognoscente, flowr and Treehugger, are available in key recreational markets across Canada. Avant's products are distributed globally to Australia, Israel and Germany, with its flagship brand, BLK MKT, currently being sold in Israel. Additionally, Avant's medical cannabis brand, GreenTec, serves qualified patients nationwide through its GreenTec Medical portal and trusted medical cannabis partners.

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