On February 1, 2023, GreenTec Holdings Inc., a subsidiary of Avant Brands Inc., acquired the remaining 50% equity stake in 3PL Ventures Inc. from F-20 Developments Corp.
Under the terms of the transaction, the aggregate purchase price payable to F-20 Developments was satisfied by the issuance of 22,249,734 shares in the capital of Avant Brands, (16,430,573 of which are subject to certain escrow terms), a convertible debenture with a principal amount equal to $9.5 million, 5,000,000 common share purchase warrants, and cash in the amount of $1.5 million.
Cassels acted for GreenTec Holdings and Avant Brands.