Photo: Contributed
It has been a busy—and revenue soaring—last 12 months for Kelowna’s Avant Brands.
The Okanagan cannabis company anticipates gross revenue of approximately $8.8 million for the fourth quarter of 2022 and $22.6 million for the year ending Nov. 30, 2022. Both of those figures represent record revenues for the company, which will release its audited financial results next month.
“The 2022 fiscal year was a record year for Avant as we continue to demonstrate that we are capable of producing high-quality cannabis at scale,” Avant founder and CEO Norton Singhavon said in a press release. “We are excited for the year ahead, as we expect to leverage the pending acquisition of The Flowr Group Okanagan Inc., which is expected to deliver additional growth.”
In addition to the pending purchase of The Flowr Group Okanagan and entering into an agreement to take over the remaining interest in 3PL ventures, Avant also sent large shipments to Israel and Australia, launched direct-to-retail store sales in B.C. and entered into the Newfoundland and Labrador and P.E.I. markets.
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