Avant Brands terminates Adjupharm agreement in Germany

Executive Summary

• Avant Brands Inc. has issued a formal notice to terminate its trademark licensing agreement with Adjupharm GmbH (a subsidiary of IM Cannabis Corp), originally announced on May 1, 2024.
• Effective May 31, 2026, all trademark and distribution rights for the BLK MKT brand in Germany and Switzerland will revert to the company (referenced as GreenTec in the release).
• The termination is part of a broader strategic realignment to optimize international distribution channels, consolidate brand equity, and secure new, more aligned partners for Germany, which is reported as the company's largest international export market.

Key Details

• Counterparty: Adjupharm GmbH, a subsidiary of IM Cannabis Corp
• Original Agreement Date: May 1, 2024
• Effective Termination/Reversion Date: May 31, 2026
• Reclaimed Assets: All trademark and distribution rights for the BLK MKT brand in Germany and Switzerland
• Strategic Rationale: Optimize international distribution channels, synchronize partnerships with long-term global growth strategy, consolidate brand equity, and align with evolving operational standards
• Market Context: Germany is identified as Avant's largest international export market per fiscal 2025 results
• Next Steps: Company has initiated an official vetting process to identify new distributors/operators in Germany, evaluating candidates based on market leadership, fiscal and operational maturity, and strategic infrastructure
• Entity Note: The release references rights reverting to "GreenTec" while identifying the issuing company as "Avant Brands Inc."; this appears to be a drafting inconsistency in the original text, but the rights are being reclaimed by the issuing entity

Notable Quotes

• Norton Singhavon, Founder & CEO: "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. We are excited to engage with prospective partners who can support this next chapter of our international growth."