October 12, 2022 (Investorideas.com Newswire) Avant Brands Inc. (TSX: AVNT) (OTCQX: AVTBF) (FRA: 1BU0) and IMC Holdings Israel, an affiliate of IM Cannabis Corp. (“IMC”) (CSE: IMCC) (NASDAQ: IMCC) have signed an exclusive international trademark licensing agreement for the Israeli medical cannabis market. The agreement constitutes a significant milestone in the relationship between the two premium companies and indicates a further deepening of their cooperation in Canada and Israel.
Under the agreement, a subsidiary of Avant will licence BLKMKT, one of its premium cannabis flagship brands, to IMC for application on IMC’s medical cannabis packaging. All such packaging will exclusively contain cannabis cultivated by Avant, and sold to IMC affiliates, under the terms of existing supply agreements. The integration of unique and exclusive varieties of the high-quality BLKMKT into the current business model will serve to bolster the mutually beneficial partnership, forged between the two companies over the past two years. It will further strengthen IMC’s premium brand portfolio in Israel which contains brands such as Wagners, IMC, and more.
The 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 enjoy 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 partnership, high-premium-priced strains such as Alien SinMint Cookies and Watermelon Zkittlez sold out in record time and were widely praised by Israeli patients.
“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 are improving our ability to provide ultra-premium quality product to these clients,” Oren Shuster, Chief Executive Officer of IM Cannabis commented.
Avant has made multiple shipments to IMC affiliates in Israel under the terms of their previously announced supply agreement.
Please let me know if you would like to speak with Avant or IMC about their partnership and the future of exports to Israel.
VP, Investor Relations & Communications
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