Avant Brands swallows poison pill

Executive Summary

• Avant Brands Inc.'s board of directors has approved the adoption of a shareholder rights plan effective January 9, 2026, establishing a standard takeover defense mechanism.
• The plan aims to provide the board and shareholders with adequate time to evaluate unsolicited takeover bids, identify value-enhancing alternatives, and ensure fair treatment and full value for shareholders.
• The adoption is conditionally approved by the Toronto Stock Exchange and requires shareholder ratification at the Annual General Meeting in May 2026, after which it will remain in effect for a three-year term.

Key Details

• Plan Structure & Agent: Shareholder rights plan agreement executed with Computershare Investor Services Inc. as rights agent.
• Effective Date: January 9, 2026.
• Regulatory Status: Conditionally accepted by the Toronto Stock Exchange (TSX), subject to customary conditions including shareholder ratification.
• Shareholder Ratification: Required at the company's Annual General Meeting of Shareholders scheduled for May 2026.
• Term: Three years following shareholder ratification.
• Adoption Context: Proactively adopted by the board; explicitly noted as not being triggered by any specific proposal or intention to acquire control of the company.
• Documentation: Complete plan available under Avant's profile on SEDAR+ and on the company's official website.