Avant Brands Targets $3.88M in Private Placement

Avant Brands Inc (TSE:AVNT) has released an update.

Avant Brands Inc., a key player in the cannabis industry, has announced a non-brokered private placement aiming to raise $3.88 million by offering over 45 million units at $0.085 each, inclusive of common shares and warrants. This initiative, expected to close by April 30, 2024, is set to bolster the company’s working capital, with a significant lead order showing confidence in Avant’s growth trajectory. The offering, subject to Toronto Stock Exchange approval, will also have insider participation, considered a related party transaction under securities laws.

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