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Growing locals

Norton Singhavon, founder and CEO of Avant Brands Inc., (seen fourth from the left in the top row) and his team helped virtually open the TSX this week to celebrate the Avant’s graduation to Toronto Stock Exchange.

Two Okanagan-based companies are increasing their market share across Canada.

Both Avant Brands (until recently, known as GTEC) and The Valens Company reported strong second-quarter earnings this week.

Avant Brands, known for its premium flower under BLK MKT and Tenzo, posted record gross revenue of $2.9 million, up 30% from the previous quarter. The company is in a strong financial position with more than $17 million in cash, and no debt. Their cannabis sales continue to rise—selling 394 kilograms, up 15%.

Norton Singhavon, founder and CEO at Avant Brands, told those listening on the company’s first ever investor call Wednesday that the company is about to launch another brand called Cognoscente, an ultra-premium brand. The company graduated to the TSX this week from the TSX Venture.

Avant will also venture beyond flower for the first time. The company is about to drop its first concentrate product in the Ontario market, with a Tenzo-branded vape pen.

Meanwhile, Valens’ gross revenue increased about 16% in Q2 to $20.5 million compared to $17.6 million in Q2 2020.

Year-over-year product sales are up more than 70%, with $16.9 million in Q2 2021 compared to $9.9 million in Q2 2020. The company now has 132 different products on the market—with more to come.

“This material growth in SKU listings stands in stark contrast to many of our competitors in the sector and is a testament to the innovation and quality we are bringing consumers and retailers," says Valens CEO Tyler Robson in a statement.

"Importantly, we are seeing this momentum continue into the third quarter with an additional 40 SKUs accepted by the provincial boards with shipments during the third and fourth quarters. These new listings include products from four newly entered categories during the second quarter, such as flower, pre-rolls, topicals, and edibles, with many of them already receiving high consumer acclaim.”

Read all about The Valens Company in Issue 3 of the oz. magazine.

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More room at THC BioMed

One of the country’s oldest active cannabis companies, THC BioMed, is expanding its footprint slightly.

The company announced its Health Canada licence has been amended to include three more strata units at its Acland Road location in Kelowna.

“The three strata units include a new storage area for edibles as well as production rooms for edibles, including baked goods,” says the company.

THC BioMed has two edible products on the recreational market: a cannabis-shot called THC Kiss, as well as Kiss Gummies.

They also produce a number of value flower products.

The company has been promising filtered joints, but they haven't hit the legal market yet despite an announcement in fall 2020 that they'd shipped.

Earlier this year, one lot of its Kiss Gummies were recalled over mould concerns.

Give a hit to the oz.

Natural History pre-rolls recalled

Don't smoke them if you've got them.

Atlas Growers has recalled three lots of Zour Apples cannabis pre-rolls—lots P200027, P200044 and P210008.

The affected products were sold in Alberta, Northwest Territories, Yukon and to clients registered for medical purposes by Medical Cannabis by Shoppers Drug Mart.

About 11,300 of the products were sold between Dec. 1, 2020, and July 7, 2021.

Give a hit to the oz. for the lot numbers

Quick hits

🏷 Cannabis Stores that just opened in Toronto are already up for sale as city faces saturation (BlogTO)

💥 Canadian producers destroyed over 500 tons of cannabis since 2018 (MJBizDaily)

💫 Illegal cannabis products we wish we still had (NOW)

MacFlurry by BLK MKT

MacFlurry from BLK MKT is one of the prettiest eighths I’ve ever bought.

It’s immediately on the nose, with tangy sweetness of lime.

One big gorgeous sticky bud was packed into the jar, and with a shake you get a satisfying thud of the bud hitting the side.

Both rolled up and in the vape it’s smooth and tasty, allowing for big bold hits without inducing a hacking cough.

The effect for me was at times uplifting, cerebral, chill and creative.

Overall, it’s a powerful high.

The bottle lists 24.6% THC, with 2.23% terpenes—dominated by Terpinolene, Caryophyllene, Limonene.

The lineage is a cross between Ice Cream Cake and MAC, and the taste has some of the nuttiness inherent in BLK MKT’s Peanut Butter MAC.

At about $55 for 3.5 grams, MacFlurry is on the pricy end—like all of BLK MKT’s offerings. This one was worth the price of admission.

This is another stand-out offering from a truly premium brand.

— David Wylie

See all of our reviews

Newswire

Inner Spirit Holdings Announces Shareholder Approval of Arrangement with Sundial Growers
 
Nova Cannabis Announces Graduation to the TSX
 
Rubicon Organics Provides Operational Update
 
Avant Brands Strengthens Board with Global CPG Expert and Seasoned Finance Executive

The Flowr Corporation Announces Offering of Securities

Dad jokes

When Queen Elizabeth farts, everyone in the room must pretend like nothing happened.
Noble Gasses don’t cause reactions.
 
Why should you never brush your teeth with your left hand?
Because a toothbrush works better.
 
What’s the difference between an Indian restaurant and a Vietnamese restaurant?
Indian places are naan profit, Vietnamese places are pho profit.

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PO Box 41080 Winfield South | Lake Country BC | V4V 2L9
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