Wednesday, 22 July 2026 07:30 AM
Company Update
KELOWNA, BC / ACCESS Newswire / July 22, 2026 / Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU) ("Avant" or the "Company"), is pleased to announce the successful completion of a comprehensive facility-wide lighting retrofit at the Company's largest cultivation facility, The Flowr Group Okanagan Inc. ("Flowr"), located in Kelowna, B.C.
The project replaced traditional high-pressure sodium (HPS) fixtures with energy-efficient LED lighting across 100% of flower rooms, supported by funding from a Government of British Columbia energy efficiency incentive program. The initiative aligns with the company's commitment to operational excellence, cost reduction, and environmental stewardship while enhancing cultivation quality and yield.
Flowr Project Highlights:
Scope: Installation of LED fixtures above- and below-canopy across the entire 80,000 square foot facility (see Figure 1 and 2 below).
Timeline: Mobilization began in late December 2025, with room-by-room above-canopy installations in January 2026, under-canopy work in February 2026, and full controls commissioning by March 2026.
Investment: Actual project cost of approximately $1.93 million, more than 28% under the original $2.70 million estimate. Incentive funding of up to $2 million will offset a substantial portion of the capital expenditure (90% on completion, 10% following measurement and verification).
Energy & Demand Reductions: Metered results show significant year-over-year reductions in electricity usage and notable drops in peak demand.
Projected Savings: It is estimated that annual savings will be significant as LEDs utilize significantly less power than HPS fixtures and produce limited heat requiring reduced HVAC cooling.
Sustainability: The upgrade is expected to avoid up to 36 tonnes of CO₂ equivalent emissions annually.
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Norton Singhavon, Founder & CEO of Avant Brands commented:
"Executing a comprehensive, 80,000 square foot retrofit at our largest facility under budget and ahead of schedule highlights our commitment to rigorous capital discipline. By leveraging $2.0 million in non-dilutive government incentives, we have fundamentally upgraded our core infrastructure. The transition to full-spectrum, above- and below-canopy LEDs not only dramatically lowers our utility and HVAC expenses, it also ensures we continue pushing the boundaries of premium cannabinoid and terpene production. This project is a clear win for our unit economics and a strategic driver for our long-term margins."
The project protected cultivation quality and yield throughout the transition and positions the Company and Flowr for stronger long-term margins in a competitive market. Final measurement and verification is underway for the remaining incentive tranche.
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
[email protected]
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 anticipated operational and financial impacts of the completed LED lighting retrofit at the Flowr facility; expectations regarding substantial annual operational savings, sustained reductions in electricity consumption, decreased HVAC cooling requirements, and drops in peak energy demand; the anticipated increase in premium yields and consistent full-spectrum performance for cannabinoid and terpene production driven by the new above- and below-canopy lighting infrastructure; expectations that these operational efficiencies will directly drive gross margin expansion and stronger long-term unit economics; and the anticipated avoidance of up to 36 tonnes of CO₂ equivalent emissions annually.
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 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 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.