An anonymous director reports

AVANT BRANDS ISSUES CORRECTION TO RECENTLY ANNOUNCED PRIVATE PLACEMENT

Avant Brands Inc. has issued a correction to the company's recently announced non-brokered private placement.

In today's prior release, dated April 8, 2024, it was stated that each unit would consist of one common share in the capital of the company and one common share purchase warrant.

The company clarifies that each unit will instead consist of one common share in the capital of the company and one-half of one transferable common share purchase warrant.

Each warrant will entitle 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 their continuing support and belief in Avant's strategic direction and potential for growth.

The offering will consist of up to 45,751,623 units at a price of 8.5 cents per unit to raise aggregate gross proceeds of up to $3,888,888. The offering is expected to close on or about April 30, 2024, or on such other date or dates as the company may determine.

Any securities to be issued under the offering will be subject to a hold period of four months and a day from the closing date of the offering in accordance with the rules and policies of the Toronto Stock Exchange (TSX), 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 less 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, hand-crafted cannabis products based on unique and exceptional cultivars.

Avant offers a comprehensive product portfolio catering to recreational, medical and export markets. Its 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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