Features

Avant Brands takes blk mkt back

Published on March 26, 2026 by Pat Bulmer

Photo: Contributed

Kelowna-based Avant Brands is taking back the rights to its blk mkt brand in two European countries.

The company announced its GreenTec Holdings subsidiary is terminating a trademark agreement with Adjupharm GmbH in Germany and Switzerland, effective May 31.

“As Avant continues to scale globally, it is essential that our international partnerships are fully integrated with our evolving operational standards and long-term vision. Reclaiming the rights to blk mkt in Germany and Switzerland is a strategic decision to consolidate our brand equity and optimize our trajectory in Europe,” said CEO Norton Singhavon in a news release.

Avant is looking for a new partner in Germany. Germany is Avant’s largest international export market. The agreement with Adjupharm was signed in 2024.

Meanwhile, Avant has been busy chopping down its debt load.

The company announced it will eliminate $1.77 million of debt owed to “an institutional investor” by trading debt for shares.

Officially, Avant is making 1.9 million “units” available at 93.5 cents each. Each unit consists of one share and the right to buy another half share.

“The remaining outstanding principal balance of approximately $0.9 million will be repaid in normal course,” Avant said in a news release.

The company has made debt reduction a focus.

“Upon the expected closing of this transaction, the company’s total debt profile will be substantially transformed,” a news release said.

The $900,000 debt is “reduced from its initial principal amount of $3.9 million.”

Another $728,000 debt was once $3.5 million.

A $9.5-million debt was recently paid in full.

“This relentless debt reduction significantly improves the company’s balance sheet, debt-to-equity ratio, and reduces quarterly cash outflows,” the news release said.

A recent financial report also referred to Avant’s debt-reduction efforts, while praising the company’s 19% increase in recreational cannabis revenue.

Singhavon declared in that report: “Fiscal 2025 marked the moment Avant’s operational discipline met its brand potential … “We’ve cleaned up the balance sheet.”

Avant’s consumer brands also include Tenzo, Cognōscente, flowr and Treehugger. It exports cannabis to Australia and Israel, as well, and grows pot in B.C., Alberta and Ontario.