Avant Brands Inc. (OTCQX: AVTBF) (TSX:AVNT)(FRA:1BU0) provided a corporate update.

On December 8, 2022, the company announced that Avant Brands K1 Inc., an entity of which Avant owns 50% of the issued and outstanding shares, was the successful bidder to purchase The Flowr Group (Okanagan) Inc., including its 185,000 square-foot production facility in Kelowna, BC . On December 19, 2022, the company announced it has entered into a binding share purchase agreement to acquire the remaining 50% equity stake of 3PL Ventures Inc. for its flagship production facility in Vernon, BC.

The Flowr Facility remains fully operational and is expected to increase Avant's production capabilities by approximately 60%. The company expects to make certain modifications to production processes at the Flowr Facility throughout the 2023 fiscal year to align with Avant's cultivation methodologies in order to …

Full story available on Benzinga.com