KELOWNA, BC / ACCESS Newswire / August 20, 2026 / Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU) ("Avant" or the "Company"), is pleased to announce the completion of its European Union Good Manufacturing Practice ("EU GMP") audit at the Company's largest cultivation facility, The Flowr Group Okanagan Inc. ("Flowr"), located in Kelowna, B.C.
Completion of the on-site audit represents an important step in Avant's efforts to obtain EU GMP certification at the Flowr facility. If certification is ultimately granted, it could support increased growth of Avant's international medical cannabis markets, providing the Company with greater control over its international supply chain.
Norton Singhavon, Founder & CEO of Avant Brands, commented:
"Completing the on-site EU GMP audit at Flowr is an important step in the certification process. We recently finalized a nearly $2.0 million capital improvement program at Flowr, focused heavily on LED infrastructure and improvements to the facility. Our team has invested significant time and resources preparing Flowr for the EU GMP process, and our focus is now on completing the remaining work required as part of the certification review. We recognize that completing the audit does not constitute certification, and we remain focused on working through the next stages of the process."
Audit and Certification Process
Conducted by a qualified German auditing body, the on-site audit evaluated the facility's operations, including cultivation, harvesting, processing and quality management.
Following completion of the on-site audit, the certification process remains ongoing. Avant will now focus on addressing observations arising from the audit and completing the required review and remediation process. The Company expects this stage to require continued work and engagement before a final certification determination is made.
Preparing for the audit required facility upgrades, process validation and alignment with applicable European requirements. The Company will continue to dedicate the necessary resources to addressing the audit findings and advancing the certification process.
There can be no assurance that final EU GMP certification will be granted by the applicable regulatory authorities, or that certification will be granted within the timeline currently anticipated. Avant will provide further updates as appropriate as the certification process progresses.
About Avant Brands Inc.
Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU) is a leading innovator in premium cannabis products, driven by a commitment to exceptional quality and craftsmanship. As one of Canada's largest indoor producers, the company operates multiple production facilities across the country, cultivating unique and high-quality cannabis strains.
Avant offers a diverse product portfolio catering to recreational, medical, and export markets. Its renowned consumer brands, including blk mkt™, Tenzo™, Cognōscente™, flowr™, and Treehugger™, are available in key recreational markets across Canada. The company's international footprint spans Australia, Israel, and Germany, with its flagship brand blk mkt™ leading the way. Avant also serves qualified medical patients nationwide through its Avant medical cannabis brand, accessible via the Avant Medical portal and trusted partner network.
Avant is a publicly traded company, listed on the Toronto Stock Exchange (TSX) and accessible to international investors through the OTCQX Best Market (OTCQX) and Frankfurt Stock Exchange (FRA). Headquartered in Kelowna, British Columbia, the company operates in strategic locations throughout Canada.
Investor Relations:
For inquiries, please contact Investor Relations at:
Avant Brands Inc.
1-800-351-6358
ir@avantbrands.ca
Neither TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Learn More:
For more information about Avant, including investor presentations and details about its consumer brands, please visit the company website: www.avantbrands.ca
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking information" as defined under applicable Canadian securities legislation, encompassing statements regarding Avant Brands Inc.'s ("Avant" or the "Company") plans, intentions, beliefs, and current expectations concerning future business activities and operating performance.
Forward-looking information is often, but not always, identified by the use of words such as "expects," "intends," "anticipates," "believes," "estimates," "plans," "may," "could," "should," "will," or variations of such words and phrases. In particular, this news release includes forward-looking information related to, but not limited to: the successful completion of the EU GMP audit at the Flowr Okanagan facility; the expectation that the Company will receive formal EU GMP certification by the end of December 2025; the potential for EU GMP certification to enable or expand export opportunities into the European medical cannabis market; the anticipated benefits of meeting pharmaceutical-grade quality and regulatory standards; the anticipated operational and financial impacts of the completed LED lighting retrofit at the Flowr facility; and expectations regarding substantial annual operational savings, sustained reductions in electricity consumption and anticipated increases in premium yields.
Forward-looking information also includes statements concerning the Company's ongoing focus on operational efficiencies, profitability, and the anticipated availability of financial statements and management's discussion and analysis ("MD&A") on the Company's SEDAR+ profile and website. Investors should be aware that forward-looking information involves inherent risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such information. Management's current expectations may not accurately predict future events or outcomes. Therefore, investors are cautioned not to place undue reliance on forward-looking information.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates, or projections concerning future results or events based on the opinions, assumptions, and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: risks associated with the early stage of the EU GMP certification process, including that successful completion of an audit does not guarantee the issuance of EU GMP certification; the possibility that the audit report may contain observations, deficiencies, or non-conformances requiring corrective and preventive actions (CAPAs) that could delay or prevent certification; uncertainties regarding the timing, scope, and conditions of any certification that may ultimately be granted; potential additional costs, facility modifications, process changes, or resource commitments required to address audit findings or maintain compliance; the risk that certification, if obtained, may be limited in scope (e.g., restricted to certain activities, products, or facilities) or subject to conditions; the risk that EU GMP certification may not be obtained in a reasonable timeframe or at all; risks related to ongoing compliance, surveillance audits, and renewal of any certification once granted; potential changes in EU regulatory requirements, guidance from the European Medicines Agency (EMA), or standards applied by the auditing body; the risk that even if certification is obtained, the Company may face challenges in securing commercial export contracts, market access, or partnerships in Europe; risks related to the performance and integration of the new LED lighting infrastructure, including technical issues or the failure to achieve or sustain the anticipated energy savings, margin enhancements, yield and improvements, and cost reductions; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business, and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the Company's annual information form dated March 2, 2026 filed with Canadian securities regulators and available on the Company's profile on SEDAR+ at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.
SOURCE: Avant Brands Inc.
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