KELOWNA,
British Columbia and GLIL YAM, Israel, Oct. 12,
2022 /PRNewswire/ -- Avant Brands Inc. (TSX:
AVNT) (OTC-QX: AVTBF) (FRA: 1BU0) ("Avant" or the
"Company") and IM Cannabis Corp. ("IMC") (CSE: IMCC)
(NASDAQ: IMCC) jointly announce the signing of an international
trademark licensing agreement (the "Licensing Agreement")
granting IMC the exclusive right to launch the BLKMKT brand in the
Israeli medical cannabis market. The Licensing Agreement
constitutes a significant milestone in the maturing and mutually
beneficial relationship between the two premium cannabis companies
in the Canadian and Israeli medical cannabis markets.
Under the terms of the License Agreement, a subsidiary of Avant
will license the Company's premium- cannabis flagship BLKMKT brand
to an Israeli subsidiary of IMC for use on IMC's medical cannabis
product packaging. All such packaging will contain cannabis
cultivated exclusively by Avant, and sold to IMC affiliates. The
integration of unique and exclusive varieties of the high-quality
BLKMKT brand into the current IMC premium product portfolio will
serve to bolster the cooperative and synergistic partnership forged
between the two companies over the past two years. It will further
strengthen IMC's business model in Israel that offers medical cannabis patients
quality, ultra-premium brands, such as WAGNERS, IMC, and more.
The Licensing Agreement signals IMC's commitment to implementing
a premium strategy and acts as another step to establish the
Company's leadership of the ultra-premium segment in Israel. IMC and Avant have enjoyed tremendous
success from their partnership so far, which combines Avant's
top-of-the-line products and IMC's excellent go-to-market
execution. Thanks to this growing partnership, ultra-premium-priced
strains, such as Alien SinMint Cookies and Watermelon Zkittlez,
sold out in record time.
"We are excited to strengthen our highly successful
partnership with IMC," said Norton Singhavon, CEO, Avant
Brands. "This agreement represents a major milestone with
respect to expanding our products and brands in international
markets."
"Medical cannabis patients in Israel are demanding the highest quality
indoor cannabis products. By evolving our partnership with Avant,
we continue to improve our supply chain and ability to provide
ultra-premium, quality product to the Israeli medical cannabis
market," Oren Shuster, CEO of
IM Cannabis commented.
Avant has made multiple shipments to Israel under the terms of a previously
announced supply agreement with Focus Medical Herbs Ltd. ("Focus
Medical"). In order to facilitate these exports, Avant's
cultivation facilities must successfully complete rigorous audits
in order to secure ICANN-G.A.P accreditation from the Israeli
Institute of Quality & Control.
About Avant Brands Inc.
Avant is an innovative, market-leading premium cannabis company.
Avant has multiple licensed and operational production facilities
across Canada, which produce
high-quality, handcrafted cannabis products for our highly desired,
and award-winning consumer brands, sold across both recreational
and medical channels.
Avant's recreational consumer brands include: BLK
MKT™, Tenzo™, Cognōscente™ and Treehugger™, all produced
from rare and exceptional cultivars, and sold in British Columbia, Ontario, Saskatchewan, Manitoba, New
Brunswick, and the Yukon.
The Company's medical cannabis brand, GreenTec™, is
distributed nationwide, directly to qualified patients through
its GreenTec Medical portal, and through various medical
cannabis partners.
Avant is a publicly traded corporation listed on the Toronto
Stock Exchange (TSX: AVNT), and cross-trades on the OTCQX Best
Market (OTC-QX: AVTBF) and Frankfurt Stock Exchange (FRA: 1BU0).
The Company is headquartered in Kelowna,
British Columbia and has operations in British Columbia, Alberta and Ontario.
To learn more about Avant, to access the investor presentation,
or learn more about its consumer brands, please
visit www.avantbrands.ca.
About IM Cannabis Corp.
IM Cannabis (NASDAQ: IMCC) (CSE: IMCC) is a leading
international cannabis company providing premium products to
medical patients and adult-use recreational consumers. IM Cannabis
is one of the very few companies with operations in Israel, Germany, and Canada, the three largest federally legal
markets. The ecosystem created through its international operations
leverages IMC's unique data-driven perspective and product supply
chain globally. With its commitment to responsible growth and
financial prudence, and the ability to operate within the strictest
regulatory environments, IMC has quickly become one of the leading
cultivators and distributors of high-quality cannabis globally.
The IM Cannabis ecosystem operates in Israel through its commercial relationship
with Focus Medical, which imports and distributes cannabis to
medical patients, leveraging years of proprietary data and patient
insights. IMC also operates medical cannabis retail pharmacies,
online platforms, distribution centres and logistical hubs in
Israel that enable the safe
delivery and quality control of IM Cannabis products throughout the
entire value chain. In Germany,
the IM Cannabis ecosystem operates through Adjupharm GmbH, where it
also distributes cannabis to pharmacies for medical cannabis
patients. In Canada, IM Cannabis
operates through Trichome Financial Corp. and its subsidiaries
Trichome JWC Acquisition Corp. and MYM Nutraceuticals Inc., where
it cultivates and processes cannabis for the adult-use market from
its facilities in Ontario and
Nova Scotia under the WAGNERS and
Highland Grow brands. For more information, please visit
www.imcannabis.com.
For additional information, please contact:
Investor Relations at Avant Brands Inc.
1-800-351-6358
ir@avantbrands.ca
Investor Relations at IM Cannabis
Maya Lustig +972-54-677-8100
maya.l@imcannabis.com
Oren Shuster, CEO
IM Cannabis Corp.
O: +972-77-3603504
E: info@imcannabis.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This press release includes certain "forward-looking
information" and "forward-looking statements" within the meaning of
applicable securities laws (collectively, "forward-looking
information"), including statements regarding the plans,
intentions, beliefs and current expectations of the Company and IMC
with respect to future business activities and operating
performance. Forward-looking information is often, but not always,
identified by the use of words such as "seek", "may", "would",
"could", "should", "will", "likely", "intend", "plan",
"anticipate", "believe", "estimate", and "expect" or similar
expressions and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking information in this press release
includes, without limitation, statements relating to the future
export of cannabis from Canada to
Israel; improvements in supply
chain; enhancing the ability to provide high-quality cannabis
products in Israel; expansion into
global cannabis markets; and expectations for other
economic, business, and/or competitive factors.
Forward-looking information is necessarily based upon a number
of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
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 and IMC believe 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 and IMC. Among
the key factors that could cause actual results to differ
materially from those projected in the forward-looking information
are the following: 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.
Readers are cautioned that the foregoing list of assumptions and
risk factors are not exhaustive.
Any forward-looking information included in this press
release is made as of the date of this press release. The Company
and IMC do not undertake any intention or obligation to update or
revise any forward-looking information, except as required by
applicable securities laws. Investors should not place undue
reliance on forward-looking information. Forward-looking
information contained in this press release are expressly qualified
by this cautionary statement.
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SOURCE IM Cannabis Corp.; Avant Brands Inc.
